RD Lewis Holdings Inc. Takes Position in Applied Materials, Inc. (NASDAQ:AMAT)

RD Lewis Holdings Inc. acquired a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,236 shares of the manufacturing equipment provider's stock, valued at approximately $582,000.

A number of other hedge funds have also recently bought and sold shares of AMAT. Crews Bank & Trust acquired a new stake in Applied Materials during the 4th quarter valued at approximately $28,000. FPC Investment Advisory Inc. acquired a new stake in Applied Materials during the 4th quarter valued at approximately $28,000. YANKCOM Partnership acquired a new position in shares of Applied Materials in the 4th quarter worth approximately $32,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Applied Materials in the 3rd quarter worth approximately $37,000. Finally, City Holding Co. acquired a new position in shares of Applied Materials in the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 80.56% of the company's stock.

Insider Buying and Selling

In related news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction 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 $1,119,052.88. The trade was a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.24% of the company's stock.

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Applied Materials Price Performance

Shares of AMAT traded down $2.26 during midday trading on Friday, reaching $152.12. The stock had a trading volume of 15,887,839 shares, compared to its average volume of 5,879,209. Applied Materials, Inc. has a 52 week low of $145.37 and a 52 week high of $255.89. 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's 50 day moving average price is $170.32 and its 200-day moving average price is $177.93. The company has a market capitalization of $123.59 billion, a P/E ratio of 19.88, a P/E/G ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings data 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 forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials declared that its Board of Directors has initiated a share buyback program on Monday, March 10th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Applied Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.21%. This is a boost 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%.

Analyst Upgrades and Downgrades

AMAT has been the subject of several research reports. Morgan Stanley reiterated an "underweight" rating and issued a $164.00 target price (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. The Goldman Sachs Group decreased their target price 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. Stifel Nicolaus decreased their target price on Applied Materials from $250.00 to $235.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Needham & Company LLC decreased their target price on Applied Materials from $200.00 to $195.00 and set a "buy" rating for the company in a research report on Friday, February 14th. Finally, Susquehanna lifted their target price on Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.