Caisse Des Depots ET Consignations Acquires Shares of 16,577 Applied Materials, Inc. (NASDAQ:AMAT)

Caisse Des Depots ET Consignations purchased a new stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,577 shares of the manufacturing equipment provider's stock, valued at approximately $2,696,000.

A number of other hedge funds have also bought and sold shares of AMAT. Blair William & Co. IL raised its holdings in Applied Materials by 0.4% in the 4th quarter. Blair William & Co. IL now owns 83,064 shares of the manufacturing equipment provider's stock valued at $13,509,000 after acquiring an additional 310 shares in the last quarter. Howe & Rusling Inc. increased its position in shares of Applied Materials by 3.8% in the fourth quarter. Howe & Rusling Inc. now owns 17,476 shares of the manufacturing equipment provider's stock worth $2,842,000 after purchasing an additional 632 shares during the period. AssuredPartners Investment Advisors LLC bought a new stake in Applied Materials during the fourth quarter worth about $399,000. NEOS Investment Management LLC grew its stake in Applied Materials by 24.6% during the fourth quarter. NEOS Investment Management LLC now owns 108,012 shares of the manufacturing equipment provider's stock worth $17,566,000 after buying an additional 21,312 shares in the last quarter. Finally, Moment Partners LLC bought a new position in Applied Materials in the 4th quarter valued at about $202,000. 80.56% of the stock is owned by institutional investors.

Applied Materials Stock Up 0.0 %

Shares of Applied Materials stock opened at $145.12 on Tuesday. The firm has a market cap of $117.90 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.81 and a beta of 1.62. The stock's 50-day moving average is $166.39 and its 200 day moving average is $176.57. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. Applied Materials, Inc. has a one year low of $141.16 and a one year high of $255.89.

Remove Ads

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Equities research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

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

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.27%. This is a positive change 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 presently 24.05%.

Insider Buying and Selling

In related news, CAO Adam Sanders sold 271 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $172.72, for a total value of $46,807.12. Following the transaction, the chief accounting officer now owns 6,479 shares of the company's stock, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AMAT has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Applied Materials from $210.00 to $200.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Barclays decreased their price target on Applied Materials from $200.00 to $190.00 and set an "equal weight" rating on the stock in a research note on Friday, February 14th. The Goldman Sachs Group dropped their price objective on Applied Materials from $230.00 to $202.00 and set a "buy" rating for the company in a research report 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 on the stock in a research report on Friday. Finally, Mizuho reduced their price target 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. One equities research 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, Applied Materials has an average rating of "Moderate Buy" and a consensus target price of $214.67.

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.