214,983 Shares in Applied Materials, Inc. (NASDAQ:AMAT) Bought by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC purchased a new stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 214,983 shares of the manufacturing equipment provider's stock, valued at approximately $34,963,000. Applied Materials accounts for about 1.7% of Cornerstone Investment Partners LLC's portfolio, making the stock its 28th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in Applied Materials by 8.6% during the 4th quarter. Nordea Investment Management AB now owns 2,077,107 shares of the manufacturing equipment provider's stock valued at $340,895,000 after acquiring an additional 164,085 shares during the period. WoodTrust Financial Corp boosted its stake in shares of Applied Materials by 47.0% in the third quarter. WoodTrust Financial Corp now owns 67,915 shares of the manufacturing equipment provider's stock valued at $13,722,000 after purchasing an additional 21,699 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Applied Materials by 1.4% in the third quarter. Victory Capital Management Inc. now owns 1,139,114 shares of the manufacturing equipment provider's stock valued at $230,158,000 after purchasing an additional 15,183 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Applied Materials by 62.6% in the third quarter. The Manufacturers Life Insurance Company now owns 1,698,282 shares of the manufacturing equipment provider's stock valued at $343,138,000 after purchasing an additional 653,739 shares in the last quarter. Finally, Pensionfund Sabic increased its stake in Applied Materials by 38.9% during the 4th quarter. Pensionfund Sabic now owns 13,200 shares of the manufacturing equipment provider's stock worth $2,147,000 after buying an additional 3,700 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Stock Performance

Shares of AMAT stock traded up $2.45 during trading hours on Wednesday, hitting $155.32. The stock had a trading volume of 4,879,835 shares, compared to its average volume of 5,865,195. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. The firm has a market capitalization of $126.19 billion, a PE ratio of 20.30, a PEG ratio of 1.81 and a beta of 1.53. The stock's 50 day moving average is $174.76 and its 200 day moving average is $181.96. Applied Materials, Inc. has a twelve month low of $149.55 and a twelve month high of $255.89.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, topping 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%. As a group, research analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials's dividend payout ratio (DPR) is presently 20.92%.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. TD Cowen dropped their price target on shares of Applied Materials from $250.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, November 15th. Bank of America lowered their target price on Applied Materials from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, November 15th. Mizuho reduced their price target on Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company decreased their price objective on Applied Materials from $210.00 to $200.00 and set an "overweight" rating for the company in a research note on Monday, January 13th. Finally, Evercore ISI reduced their target price on shares of Applied Materials from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, November 15th. 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $215.38.

Applied Materials Company 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.