Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lifted its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 825,326 shares of the manufacturing equipment provider's stock after acquiring an additional 44,900 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.10% of Applied Materials worth $134,223,000 as of its most recent SEC filing.

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

Applied Materials Trading Up 2.0 %

Shares of NASDAQ:AMAT opened at $138.30 on Wednesday. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The stock has a market capitalization 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 1 year low of $123.74 and a 1 year high of $255.89. The firm has a fifty day moving average price of $150.85 and a 200 day moving average price of $169.69.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) 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%. Analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

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. 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 1.33%. Applied Materials's payout ratio is presently 24.05%.

Applied Materials announced that its board has initiated a share repurchase plan 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 plans are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Susquehanna raised their target price on shares of Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. The Goldman Sachs Group decreased their price objective on shares of Applied Materials from $230.00 to $202.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Needham & Company LLC cut their target price on shares of Applied Materials from $200.00 to $195.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Mizuho decreased their target price on Applied Materials from $220.00 to $210.00 and set an "outperform" rating for the company in a research report on Friday, January 10th. Finally, Stifel Nicolaus dropped their price target on Applied Materials from $235.00 to $195.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Applied Materials has a consensus rating of "Moderate Buy" and an average target price of $208.86.

Insider Buying and Selling

In related news, CEO Gary E. Dickerson purchased 50,000 shares of Applied Materials stock in a transaction on Thursday, April 3rd. The stock was purchased at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the acquisition, the chief executive officer now directly owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. This trade represents a 3.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Adam Sanders sold 271 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $1,119,052.88. The trade was a 4.01 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

About Applied Materials

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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