AlphaQuest LLC Increases Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

AlphaQuest LLC raised its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 201.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,510 shares of the manufacturing equipment provider's stock after purchasing an additional 2,345 shares during the quarter. AlphaQuest LLC's holdings in Applied Materials were worth $571,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp grew its stake in shares of Applied Materials by 1.8% in the 3rd quarter. State Street Corp now owns 38,808,047 shares of the manufacturing equipment provider's stock valued at $7,841,178,000 after purchasing an additional 672,548 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Applied Materials by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 19,826,373 shares of the manufacturing equipment provider's stock valued at $3,994,968,000 after purchasing an additional 371,866 shares during the last quarter. FMR LLC grew its stake in shares of Applied Materials by 5.5% in the 3rd quarter. FMR LLC now owns 16,413,112 shares of the manufacturing equipment provider's stock valued at $3,316,269,000 after purchasing an additional 858,122 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Applied Materials by 3.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,861,933 shares of the manufacturing equipment provider's stock valued at $1,790,554,000 after purchasing an additional 318,445 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Applied Materials by 1.3% in the 4th quarter. Van ECK Associates Corp now owns 6,655,308 shares of the manufacturing equipment provider's stock valued at $1,082,353,000 after purchasing an additional 84,130 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on AMAT. Morgan Stanley restated an "underweight" rating and issued a $164.00 price target (down from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Evercore ISI decreased their price target on Applied Materials from $260.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, November 15th. The Goldman Sachs Group decreased their price target on Applied Materials from $230.00 to $202.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Mizuho decreased their price target on Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a research note on Friday, January 10th. Finally, Barclays decreased their price target 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. One investment 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. According to MarketBeat, Applied Materials presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.38.

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Insider Activity at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the completion of the transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.24% of the company's stock.

Applied Materials Stock Performance

NASDAQ AMAT opened at $149.06 on Thursday. Applied Materials, Inc. has a fifty-two week low of $145.37 and a fifty-two week high of $255.89. The stock has a market cap of $121.10 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. The business has a fifty day moving average of $173.10 and a 200-day moving average of $179.85. 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 (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. As a group, analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be paid a $0.46 dividend. This is a positive change from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.23%. The ex-dividend date is Thursday, May 22nd. Applied Materials's dividend payout ratio is presently 20.92%.

Applied Materials declared that its board has approved a stock buyback plan on Monday, March 10th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

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.

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