Diversified Enterprises LLC Raises Position in Applied Materials, Inc. (NASDAQ:AMAT)

Diversified Enterprises LLC increased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,132 shares of the manufacturing equipment provider’s stock after purchasing an additional 74 shares during the quarter. Diversified Enterprises LLC’s holdings in Applied Materials were worth $347,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AMAT. Natixis Advisors LLC grew its stake in shares of Applied Materials by 2.7% during the 4th quarter. Natixis Advisors LLC now owns 706,729 shares of the manufacturing equipment provider’s stock valued at $114,935,000 after acquiring an additional 18,760 shares during the period. M & L Capital Management Ltd bought a new stake in shares of Applied Materials during the 4th quarter valued at $1,106,000. Clearstead Trust LLC bought a new stake in shares of Applied Materials during the 4th quarter valued at $846,000. Copperwynd Financial LLC bought a new position in shares of Applied Materials in the fourth quarter worth about $728,000. Finally, Hills Bank & Trust Co grew its position in shares of Applied Materials by 6.6% during the fourth quarter. Hills Bank & Trust Co now owns 1,061 shares of the manufacturing equipment provider’s stock worth $173,000 after purchasing an additional 66 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Price Performance

Shares of AMAT stock opened at $155.66 on Friday. The stock has a 50 day moving average price of $172.54 and a 200 day moving average price of $179.24. The firm has a market capitalization of $126.46 billion, a P/E ratio of 20.35, a P/E/G ratio of 1.81 and a beta of 1.62. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. Applied Materials, Inc. has a 52-week low of $145.37 and a 52-week high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. As a group, sell-side analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.18%. Applied Materials’s dividend payout ratio (DPR) is 24.05%.

Applied Materials declared that its Board of Directors has initiated a stock buyback program on Monday, March 10th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the manufacturing equipment provider to repurchase up to 8.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AMAT shares. Barclays decreased their target price on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Wells Fargo & Company dropped their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Morgan Stanley reaffirmed an “underweight” rating and set a $164.00 target price (down from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Susquehanna increased their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, Sanford C. Bernstein reduced their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

Insider Activity

In other news, CAO Adam Sanders sold 271 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the transaction, the chief accounting officer now owns 6,479 shares of the company’s stock, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

Applied Materials Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.