Antonelli Financial Advisors LLC Acquires New Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Antonelli Financial Advisors LLC bought a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,714 shares of the manufacturing equipment provider's stock, valued at approximately $767,000. Applied Materials makes up about 0.6% of Antonelli Financial Advisors LLC's portfolio, making the stock its 25th biggest position.

A number of other large investors have also made changes to their positions in the business. State Street Corp lifted its holdings in Applied Materials by 1.8% in the third quarter. State Street Corp now owns 38,808,047 shares of the manufacturing equipment provider's stock valued at $7,841,178,000 after acquiring an additional 672,548 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Applied Materials by 1.9% in the third 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 period. FMR LLC boosted its holdings in 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Applied Materials by 3.7% during the third 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 worth $1,790,554,000 after buying an additional 318,445 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Applied Materials by 1.3% in the fourth 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 owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, CAO Adam Sanders sold 271 shares of the stock in a transaction that occurred 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 sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by company insiders.

Applied Materials Price Performance

AMAT stock traded down $1.31 during midday trading on Tuesday, reaching $153.64. The company had a trading volume of 5,093,097 shares, compared to its average volume of 5,885,608. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. The firm has a 50-day moving average price of $170.00 and a 200-day moving average price of $177.68. Applied Materials, Inc. has a 1 year low of $145.37 and a 1 year high of $255.89. The company has a market capitalization of $124.82 billion, a P/E ratio of 20.08, a P/E/G ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, beating 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, research analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials announced that its board has authorized a share buyback program on Monday, March 10th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to buy up to 8.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Thursday, May 22nd. This is a boost from Applied Materials's previous quarterly dividend of $0.40. Applied Materials's dividend payout ratio is 24.05%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup lifted their target price on shares of Applied Materials from $194.00 to $202.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Mizuho reduced their price objective 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. The Goldman Sachs Group lowered their price objective on Applied Materials from $230.00 to $202.00 and set a "buy" rating for the company in a research note on Friday, January 10th. KeyCorp upgraded Applied Materials from a "sector weight" rating to an "overweight" rating and set a $225.00 price target for the company in a research note on Friday, January 17th. Finally, Barclays decreased their price target on shares of Applied Materials from $200.00 to $190.00 and set an "equal weight" rating for the company in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $215.38.

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.