AssuredPartners Investment Advisors LLC Makes New $399,000 Investment in Applied Materials, Inc. (NASDAQ:AMAT)

AssuredPartners Investment Advisors LLC bought a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,451 shares of the manufacturing equipment provider's stock, valued at approximately $399,000.

A number of other institutional investors have also recently made changes to their positions in the business. NEOS Investment Management LLC increased its holdings in Applied Materials by 24.6% during the 4th quarter. NEOS Investment Management LLC now owns 108,012 shares of the manufacturing equipment provider's stock worth $17,566,000 after purchasing an additional 21,312 shares during the period. Moment Partners LLC purchased a new stake in shares of Applied Materials during the fourth quarter worth approximately $202,000. Sava Infond d.o.o. acquired a new stake in Applied Materials in the fourth quarter valued at approximately $7,914,000. WINTON GROUP Ltd raised its holdings in Applied Materials by 252.7% in the fourth quarter. WINTON GROUP Ltd now owns 7,640 shares of the manufacturing equipment provider's stock valued at $1,242,000 after acquiring an additional 5,474 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Applied Materials by 9.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,398,416 shares of the manufacturing equipment provider's stock worth $237,973,000 after acquiring an additional 120,316 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

Applied Materials Stock Performance

NASDAQ:AMAT traded down $0.35 during midday trading on Monday, reaching $144.71. The stock had a trading volume of 3,244,159 shares, compared to its average volume of 6,264,756. The stock has a market cap of $117.57 billion, a P/E ratio of 18.92, a P/E/G ratio of 1.81 and a beta of 1.62. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 12-month low of $141.23 and a 12-month high of $255.89. The firm has a fifty day simple moving average of $167.33 and a two-hundred day simple moving average of $176.84.

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Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. On average, equities analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be given a $0.46 dividend. This is a boost from Applied Materials's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.27%. Applied Materials's dividend payout ratio is presently 24.05%.

Applied Materials announced that its board has approved a share buyback program on Monday, March 10th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Edward Jones upgraded shares of Applied Materials from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. The Goldman Sachs Group decreased their price target on Applied Materials from $230.00 to $202.00 and set a "buy" rating for the company in a report on Friday, January 10th. KeyCorp raised Applied Materials from a "sector weight" rating to an "overweight" rating and set a $225.00 price objective for the company in a research report on Friday, January 17th. Barclays cut their target price on Applied Materials from $200.00 to $190.00 and set an "equal weight" rating on the stock in a research report on Friday, February 14th. Finally, Stifel Nicolaus dropped their price target on shares of Applied Materials from $250.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Applied Materials has an average rating of "Moderate Buy" and an average target price of $214.67.

Insiders Place Their Bets

In other news, CAO Adam Sanders sold 271 shares of the business's stock in a transaction that occurred 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 sale, the chief accounting officer now owns 6,479 shares of the company's stock, valued at $1,119,052.88. The trade was a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.