LPL Financial LLC Purchases 80,073 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

LPL Financial LLC lifted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 14.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 637,639 shares of the manufacturing equipment provider’s stock after buying an additional 80,073 shares during the quarter. LPL Financial LLC’s holdings in Applied Materials were worth $103,699,000 at the end of the most recent quarter.

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

Applied Materials Trading Down 0.8 %

NASDAQ AMAT opened at $153.64 on Wednesday. Applied Materials, Inc. has a 1 year low of $145.37 and a 1 year 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 company has a market capitalization of $124.82 billion, a PE ratio of 20.08, a P/E/G ratio of 1.81 and a beta of 1.62. The company has a fifty day moving average of $169.60 and a 200 day moving average of $177.53.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating 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%. Research analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials announced that its board has approved a share buyback plan 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 purchase up to 8.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership 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. Stockholders of record on Thursday, May 22nd will be paid a dividend of $0.46 per share. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.20%. Applied Materials’s dividend payout ratio (DPR) is presently 24.05%.

Insider Activity

In related news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $172.72, for a total transaction of $46,807.12. Following the sale, the chief accounting officer now owns 6,479 shares in the company, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AMAT. KeyCorp upgraded shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price objective for the company in a research note on Friday, January 17th. Susquehanna increased their price objective on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group dropped their target price on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Needham & Company LLC decreased their price target on Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Finally, Morgan Stanley restated an “underweight” rating and set a $164.00 price target (down previously from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Applied Materials presently has an average 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.