Hickory Asset Management Inc. Takes Position in Applied Materials, Inc. (NASDAQ:AMAT)

Hickory Asset Management Inc. purchased a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,857 shares of the manufacturing equipment provider's stock, valued at approximately $302,000.

Several other institutional investors also recently bought and sold shares of AMAT. State Street Corp lifted its position in shares of Applied Materials by 1.8% during the 3rd quarter. State Street Corp now owns 38,808,047 shares of the manufacturing equipment provider's stock valued at $7,841,178,000 after buying an additional 672,548 shares in the last quarter. Geode Capital Management LLC raised its position in Applied Materials by 1.9% during the third quarter. Geode Capital Management LLC now owns 19,826,373 shares of the manufacturing equipment provider's stock worth $3,994,968,000 after acquiring an additional 371,866 shares during the period. FMR LLC raised its position in Applied Materials by 5.5% during the third quarter. FMR LLC now owns 16,413,112 shares of the manufacturing equipment provider's stock worth $3,316,269,000 after acquiring an additional 858,122 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Applied Materials by 3.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,861,933 shares of the manufacturing equipment provider's stock valued at $1,790,554,000 after purchasing an additional 318,445 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Applied Materials by 1.3% in the fourth quarter. Van ECK Associates Corp now owns 6,655,308 shares of the manufacturing equipment provider's stock valued at $1,082,353,000 after purchasing an additional 84,130 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Trading Up 1.2 %

Shares of AMAT traded up $2.06 during trading on Wednesday, reaching $174.06. 5,792,836 shares of the company traded hands, compared to its average volume of 6,703,145. The stock has a 50-day simple moving average of $175.39 and a 200-day simple moving average of $184.05. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a twelve month low of $158.96 and a twelve month high of $255.89. The stock has a market cap of $141.46 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 1.72 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 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%. On average, analysts anticipate that Applied Materials, Inc. will post 9.39 earnings per share for the current year.

Applied Materials Dividend Announcement

The firm 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 dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. Applied Materials's dividend payout ratio (DPR) is presently 20.92%.

Analysts Set New Price Targets

AMAT has been the topic of a number of research reports. Bank of America decreased their price target on shares of Applied Materials from $220.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, November 15th. Cantor Fitzgerald restated an "overweight" rating and issued a $250.00 target price on shares of Applied Materials in a research report on Friday, November 15th. TD Cowen dropped their price target on Applied Materials from $250.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, November 15th. Barclays decreased their price objective on Applied Materials from $200.00 to $190.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. Finally, Mizuho dropped their target price on shares of Applied Materials from $220.00 to $210.00 and set an "outperform" rating for the company in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $215.38.

Applied Materials 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.