Argent Trust Co Acquires 5,171 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Argent Trust Co increased its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 43.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,956 shares of the manufacturing equipment provider's stock after acquiring an additional 5,171 shares during the quarter. Argent Trust Co's holdings in Applied Materials were worth $2,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

AMAT has been the subject of several recent research reports. Susquehanna lifted their price target on Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Citigroup cut their price objective on shares of Applied Materials from $202.00 to $170.00 and set a "buy" rating on the stock in a report on Friday. Needham & Company LLC decreased their price target on shares of Applied Materials from $200.00 to $195.00 and set a "buy" rating for the company in a research report on Friday, February 14th. The Goldman Sachs Group reduced their price target on Applied Materials from $230.00 to $202.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Finally, Jefferies Financial Group upgraded Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 price target on the stock in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Applied Materials presently has an average rating of "Moderate Buy" and a consensus price target of $211.24.

Applied Materials Stock Up 0.8 %

Shares of NASDAQ:AMAT traded up $1.12 during mid-day trading on Tuesday, hitting $145.65. 2,152,323 shares of the company traded hands, compared to its average volume of 6,599,431. The firm has a market cap of $118.33 billion, a P/E ratio of 19.04, a PEG ratio of 1.81 and a beta of 1.61. The firm's 50 day simple moving average is $156.09 and its 200 day simple moving average is $172.06. Applied Materials, Inc. has a 52-week low of $123.74 and a 52-week 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 for the quarter, beating 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, equities analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be issued a $0.46 dividend. The ex-dividend date is Thursday, May 22nd. This is a boost from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 1.26%. Applied Materials's dividend payout ratio (DPR) is 24.05%.

Applied Materials announced that its board has authorized a stock repurchase 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 repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Gary E. Dickerson acquired 50,000 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired 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 owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. This represents a 3.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Adam Sanders sold 271 shares of the company's stock in a transaction dated Monday, February 24th. The shares were 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. This trade represents a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently 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.