Horizon Investments LLC Buys 11,749 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Horizon Investments LLC lifted its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 60.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,112 shares of the manufacturing equipment provider's stock after buying an additional 11,749 shares during the period. Horizon Investments LLC's holdings in Applied Materials were worth $5,060,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. FPC Investment Advisory Inc. acquired a new stake in Applied Materials during the 4th quarter worth $28,000. Crews Bank & Trust acquired a new stake in shares of Applied Materials in the 4th quarter worth $28,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Applied Materials in the 3rd quarter worth $37,000. YANKCOM Partnership acquired a new stake in shares of Applied Materials in the 4th quarter worth $32,000. Finally, Dunhill Financial LLC lifted its stake in shares of Applied Materials by 61.4% in the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider's stock worth $43,000 after acquiring an additional 81 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AMAT shares. Needham & Company LLC cut their price target on shares of Applied Materials from $200.00 to $195.00 and set a "buy" rating for the company in a report on Friday, February 14th. The Goldman Sachs Group cut their price target on shares of Applied Materials from $230.00 to $202.00 and set a "buy" rating for the company in a report on Friday, January 10th. Susquehanna increased their price target on shares of Applied Materials from $155.00 to $165.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Morgan Stanley reiterated an "underweight" rating and issued a $164.00 price target (down previously from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Finally, Edward Jones upgraded shares of Applied Materials from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $215.38.

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Insider Activity at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the company's stock in a transaction dated 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 $1,119,052.88. This represents a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Applied Materials Stock Down 1.5 %

Shares of NASDAQ AMAT traded down $2.26 during midday trading on Friday, hitting $152.12. 15,887,839 shares of the stock traded hands, compared to its average volume of 5,879,209. The company has a market cap of $123.59 billion, a PE ratio of 19.88, a P/E/G ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a one year low of $145.37 and a one year high of $255.89. The business has a 50 day moving average price of $170.32 and a two-hundred day moving average price of $177.93. 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 results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping 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 predict 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. Investors of record on Thursday, May 22nd will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.21%. This is a positive change from Applied Materials's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. Applied Materials's payout ratio is presently 24.05%.

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

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.