Busey Bank Has $29.02 Million Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Busey Bank raised its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 178,420 shares of the manufacturing equipment provider's stock after purchasing an additional 2,679 shares during the period. Applied Materials makes up about 1.0% of Busey Bank's investment portfolio, making the stock its 23rd biggest holding. Busey Bank's holdings in Applied Materials were worth $29,016,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AMAT. Clean Yield Group bought a new stake in Applied Materials during the 3rd quarter worth approximately $33,000. First PREMIER Bank boosted its holdings in shares of Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider's stock valued at $33,000 after buying an additional 124 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in shares of Applied Materials during the third quarter worth $37,000. DT Investment Partners LLC raised its holdings in shares of Applied Materials by 592.9% during the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider's stock worth $39,000 after acquiring an additional 166 shares during the period. Finally, Dunhill Financial LLC lifted its position in Applied Materials by 61.4% in the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider's stock valued at $43,000 after acquiring an additional 81 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Performance

NASDAQ:AMAT traded up $6.44 during mid-day trading on Thursday, reaching $181.72. 5,991,840 shares of the company's stock were exchanged, compared to its average volume of 6,818,539. Applied Materials, Inc. has a one year low of $158.96 and a one year high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. The business's fifty day simple moving average is $174.24 and its two-hundred day simple moving average is $187.55. The firm has a market capitalization of $147.86 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.99 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating analysts' consensus estimates of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same period in the prior year, the company posted $2.12 EPS. The company's revenue was up 4.8% compared to the same quarter last year. Analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, February 20th. Applied Materials's dividend payout ratio is currently 18.58%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an "underweight" rating and set a $164.00 price target (down from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Sanford C. Bernstein decreased their target price on shares of Applied Materials from $220.00 to $210.00 and set an "outperform" rating for the company in a research report on Friday, November 29th. Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 price target on shares of Applied Materials in a research report on Friday, November 15th. KeyCorp upgraded Applied Materials from a "sector weight" rating to an "overweight" rating and set a $225.00 price objective for the company in a report on Friday, January 17th. Finally, Susquehanna upped their target price on Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $218.71.

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.