3,566 Shares in Applied Materials, Inc. (NASDAQ:AMAT) Purchased by Sciencast Management LP

Sciencast Management LP acquired a new stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,566 shares of the manufacturing equipment provider's stock, valued at approximately $580,000.

Other hedge funds also recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new stake in shares of Applied Materials in the 4th quarter valued at about $28,000. Crews Bank & Trust acquired a new position in Applied Materials during the fourth quarter worth approximately $28,000. YANKCOM Partnership acquired a new position in Applied Materials during the fourth quarter worth approximately $32,000. Dunhill Financial LLC lifted its stake in Applied Materials by 61.4% in the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider's stock valued at $43,000 after buying an additional 81 shares during the last quarter. Finally, City Holding Co. acquired a new stake in shares of Applied Materials in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Applied Materials Price Performance

AMAT stock traded down $3.00 during trading on Thursday, reaching $147.68. 6,892,582 shares of the company were exchanged, compared to its average volume of 5,901,134. 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 quick ratio of 1.96 and a current ratio of 2.67. The company has a market cap of $119.98 billion, a P/E ratio of 19.30, a PEG ratio of 1.81 and a beta of 1.62. The stock's 50 day moving average price is $169.05 and its 200 day moving average price is $177.34.

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Applied Materials (NASDAQ:AMAT - Get Free Report) last released 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%. As a group, analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

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

Applied Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be given a $0.46 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.25%. This is a boost from Applied Materials's previous quarterly dividend of $0.40. Applied Materials's dividend payout ratio (DPR) is currently 24.05%.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $172.72, for a total value of $46,807.12. Following the sale, the chief accounting officer now directly owns 6,479 shares of the company's stock, valued at approximately $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 at this hyperlink. Corporate insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Mizuho cut their target price on shares of Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. Barclays reduced their target price on shares of Applied Materials from $200.00 to $190.00 and set an "equal weight" rating for the company in a report on Friday, February 14th. Susquehanna raised their price target on Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Edward Jones upgraded Applied Materials from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $164.00 price objective (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $215.38.

About Applied Materials

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.