Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Ironvine Capital Partners LLC

Ironvine Capital Partners LLC boosted its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 710.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,854 shares of the manufacturing equipment provider's stock after acquiring an additional 27,922 shares during the period. Applied Materials accounts for 0.6% of Ironvine Capital Partners LLC's portfolio, making the stock its 29th largest position. Ironvine Capital Partners LLC's holdings in Applied Materials were worth $5,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Crews Bank & Trust acquired a new stake in Applied Materials during the fourth quarter valued at approximately $28,000. FPC Investment Advisory Inc. bought a new stake in shares of Applied Materials in the 4th quarter worth approximately $28,000. YANKCOM Partnership acquired a new position in Applied Materials during the 4th quarter valued at approximately $32,000. City Holding Co. acquired a new stake in Applied Materials in the fourth quarter worth $39,000. Finally, Atala Financial Inc acquired a new position in shares of Applied Materials during the fourth quarter valued at $45,000. Institutional investors own 80.56% of the company's stock.

Analyst Ratings Changes

AMAT has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their price target on Applied Materials from $230.00 to $202.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Mizuho lowered their price objective on shares of Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a research note on Friday, January 10th. Jefferies Financial Group upgraded Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 target price for the company in a research report on Friday, March 28th. Stifel Nicolaus reduced their price objective on shares of Applied Materials from $235.00 to $195.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Edward Jones raised shares of Applied Materials from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $208.86.

Applied Materials Stock Up 2.0 %

Applied Materials stock opened at $138.30 on Wednesday. The firm's 50 day moving average price is $150.85 and its two-hundred day moving average price is $169.69. The firm has a market cap of $112.36 billion, a PE ratio of 18.08, a P/E/G ratio of 1.81 and a beta of 1.61. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $255.89. 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 (NASDAQ:AMAT - Get Free Report) last announced its quarterly earnings data 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 return on equity of 39.50% and a net margin of 22.95%. On average, research analysts predict that Applied Materials, Inc. will post 9.38 EPS 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. Shareholders of record on Thursday, May 22nd will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.33%. This is an increase from Applied Materials's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials's payout ratio is currently 24.05%.

Applied Materials announced that its Board of Directors has authorized a share repurchase plan on Monday, March 10th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $172.72, for a total value of $46,807.12. Following the completion of the sale, the chief accounting officer now directly owns 6,479 shares of the company's stock, valued at $1,119,052.88. This represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gary E. Dickerson bought 50,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average cost of $137.30 per share, for a total transaction of $6,865,000.00. Following the purchase, the chief executive officer now owns 1,716,058 shares of the company's stock, valued at $235,614,763.40. This trade represents a 3.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company 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.

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