SageView Advisory Group LLC Increases Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

SageView Advisory Group LLC raised its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 190.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,607 shares of the manufacturing equipment provider's stock after buying an additional 3,022 shares during the period. SageView Advisory Group LLC's holdings in Applied Materials were worth $749,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Crews Bank & Trust purchased a new stake in Applied Materials during the 4th quarter valued at $28,000. FPC Investment Advisory Inc. purchased a new stake in shares of Applied Materials during the fourth quarter worth about $28,000. YANKCOM Partnership bought a new stake in shares of Applied Materials in the fourth quarter worth about $32,000. City Holding Co. purchased a new position in Applied Materials during the 4th quarter valued at about $39,000. Finally, Atala Financial Inc bought a new position in Applied Materials during the 4th quarter valued at approximately $45,000. 80.56% of the stock is owned by institutional investors.

Applied Materials Stock Performance

Shares of NASDAQ:AMAT traded down $0.73 during midday trading on Friday, reaching $137.46. 6,485,904 shares of the company's stock traded hands, compared to its average volume of 6,642,142. Applied Materials, Inc. has a one year low of $123.74 and a one year high of $255.89. The stock has a 50 day moving average of $153.59 and a 200 day moving average of $171.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. The company has a market cap of $111.68 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 1.81 and a beta of 1.61.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials announced that its board has approved a share repurchase program on Monday, March 10th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the manufacturing equipment provider to reacquire up to 8.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Applied Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors 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 yield of 1.34%. The ex-dividend date of this dividend is Thursday, May 22nd. This is a boost from Applied Materials's previous quarterly dividend of $0.40. Applied Materials's dividend payout ratio is 24.05%.

Insiders Place Their Bets

In other Applied Materials news, CEO Gary E. Dickerson acquired 50,000 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were bought at an average price of $137.30 per share, with a total value of $6,865,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,716,058 shares in the company, valued at $235,614,763.40. This represents a 3.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $46,807.12. Following the completion of the transaction, the chief accounting officer now owns 6,479 shares in the company, valued at $1,119,052.88. The trade was a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Applied Materials from $235.00 to $195.00 and set a "buy" rating on the stock in a research report on Tuesday. Edward Jones upgraded shares of Applied Materials from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Bank of America reduced their target price on Applied Materials from $205.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday. Susquehanna raised their target price on Applied Materials from $155.00 to $165.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Finally, KeyCorp raised Applied Materials from a "sector weight" rating to an "overweight" rating and set a $225.00 price target on the stock in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $210.29.

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.