Okabena Investment Services Inc. Raises Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Okabena Investment Services Inc. raised its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 204.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,601 shares of the manufacturing equipment provider's stock after purchasing an additional 5,107 shares during the quarter. Okabena Investment Services Inc.'s holdings in Applied Materials were worth $1,236,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Field & Main Bank raised its position in Applied Materials by 1.8% during the fourth quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider's stock worth $516,000 after acquiring an additional 55 shares in the last quarter. Bank of New Hampshire raised its holdings in shares of Applied Materials by 0.8% in the 4th quarter. Bank of New Hampshire now owns 6,998 shares of the manufacturing equipment provider's stock valued at $1,138,000 after purchasing an additional 56 shares during the period. Grove Bank & Trust raised its holdings in shares of Applied Materials by 0.8% in the 4th quarter. Grove Bank & Trust now owns 7,388 shares of the manufacturing equipment provider's stock valued at $1,202,000 after purchasing an additional 60 shares during the period. Cyndeo Wealth Partners LLC raised its stake in Applied Materials by 0.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 14,601 shares of the manufacturing equipment provider's stock valued at $2,375,000 after buying an additional 60 shares during the period. Finally, Mezzasalma Advisors LLC lifted its position in shares of Applied Materials by 3.0% in the fourth quarter. Mezzasalma Advisors LLC now owns 2,060 shares of the manufacturing equipment provider's stock valued at $335,000 after buying an additional 60 shares during the last quarter. Institutional investors own 80.56% of the company's stock.

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Analysts Set New Price Targets

Several research firms have commented on AMAT. Susquehanna upped their price objective 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. Stifel Nicolaus reduced their price target on Applied Materials from $250.00 to $235.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Edward Jones upgraded shares of Applied Materials from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Wells Fargo & Company cut their price objective 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. Finally, Barclays lowered their target price on shares of Applied Materials from $200.00 to $190.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $214.67.

Applied Materials Trading Up 0.0 %

Applied Materials stock traded up $0.06 during mid-day trading on Monday, hitting $145.12. 6,836,925 shares of the stock were exchanged, compared to its average volume of 6,279,356. The firm's fifty day simple moving average is $167.33 and its two-hundred day simple moving average is $176.84. 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 12 month low of $141.23 and a 12 month high of $255.89. The stock has a market capitalization of $117.90 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.81 and a beta of 1.62.

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 return on equity of 39.50% and a net margin of 22.95%. Analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend 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 dividend payout ratio is presently 24.05%.

Applied Materials announced that its board has initiated a stock buyback program 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 programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Applied Materials

In other news, CAO Adam Sanders sold 271 shares of the 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 completion of the sale, the chief accounting officer now directly owns 6,479 shares of the company's stock, valued at $1,119,052.88. This represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.24% of the company's stock.

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.