Talos Asset Management LP Invests $8.98 Million in Applied Materials, Inc. (NASDAQ:AMAT)

Talos Asset Management LP acquired a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 55,200 shares of the manufacturing equipment provider's stock, valued at approximately $8,977,000. Applied Materials accounts for 2.1% of Talos Asset Management LP's portfolio, making the stock its 19th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in AMAT. Nordea Investment Management AB increased its holdings in shares of Applied Materials by 8.6% during the fourth quarter. Nordea Investment Management AB now owns 2,077,107 shares of the manufacturing equipment provider's stock worth $340,895,000 after buying an additional 164,085 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Applied Materials by 62.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,698,282 shares of the manufacturing equipment provider's stock valued at $343,138,000 after purchasing an additional 653,739 shares during the last quarter. Pensionfund Sabic boosted its stake in Applied Materials by 38.9% in the fourth quarter. Pensionfund Sabic now owns 13,200 shares of the manufacturing equipment provider's stock worth $2,147,000 after purchasing an additional 3,700 shares in the last quarter. Brookstone Capital Management grew its holdings in shares of Applied Materials by 59.1% during the fourth quarter. Brookstone Capital Management now owns 45,378 shares of the manufacturing equipment provider's stock worth $7,380,000 after purchasing an additional 16,851 shares during the last quarter. Finally, Advisors Management Group Inc. ADV bought a new stake in shares of Applied Materials during the fourth quarter worth $339,000. Institutional investors and hedge funds own 80.56% of the company's stock.

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Insider Transactions at Applied Materials

In other news, CAO Adam Sanders sold 271 shares of the business's stock in a transaction on 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 owns 6,479 shares of the company's stock, valued at $1,119,052.88. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.

Applied Materials Trading Up 1.9 %

Shares of AMAT stock traded up $2.83 on Monday, hitting $154.95. The stock had a trading volume of 5,853,669 shares, compared to its average volume of 5,887,306. The firm has a market cap of $125.89 billion, a P/E ratio of 20.25, a PEG ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a twelve month low of $145.37 and a twelve month high of $255.89. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average price of $170.32 and a two-hundred day moving average price of $177.86.

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%. As a group, analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials announced that its Board of Directors has approved a stock repurchase program on Monday, March 10th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date 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%.

Analysts Set New Price Targets

Several research analysts recently issued reports on AMAT shares. Sanford C. Bernstein reduced their price target on shares of Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a research report on Friday, November 29th. Barclays reduced 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 research report on Friday, February 14th. The Goldman Sachs Group lowered 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. Stifel Nicolaus reduced their price objective on Applied Materials from $250.00 to $235.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Finally, KeyCorp raised Applied Materials from a "sector weight" rating to an "overweight" rating and set a $225.00 target price for the company in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Applied Materials currently has an average 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.