Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Elgethun Capital Management

Elgethun Capital Management boosted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 14.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,166 shares of the manufacturing equipment provider’s stock after acquiring an additional 149 shares during the quarter. Elgethun Capital Management’s holdings in Applied Materials were worth $190,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AMAT. Nordea Investment Management AB lifted its stake in shares of Applied Materials by 8.6% in the 4th quarter. Nordea Investment Management AB now owns 2,077,107 shares of the manufacturing equipment provider’s stock valued at $340,895,000 after purchasing an additional 164,085 shares during the period. Pensionfund Sabic raised its position in shares of 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 acquiring an additional 3,700 shares during the period. Brookstone Capital Management raised its position in shares of Applied Materials by 59.1% in the fourth quarter. Brookstone Capital Management now owns 45,378 shares of the manufacturing equipment provider’s stock worth $7,380,000 after acquiring an additional 16,851 shares during the period. Advisors Management Group Inc. ADV purchased a new stake in shares of Applied Materials during the 4th quarter worth about $339,000. Finally, Rheos Capital Works Inc. grew its position in shares of Applied Materials by 2.7% during the 4th quarter. Rheos Capital Works Inc. now owns 170,100 shares of the manufacturing equipment provider’s stock valued at $27,663,000 after acquiring an additional 4,500 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Trading Down 6.3 %

Shares of Applied Materials stock opened at $126.95 on Monday. The stock has a 50 day moving average of $162.19 and a 200 day moving average of $175.20. 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 firm has a market capitalization of $103.14 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.81 and a beta of 1.61. Applied Materials, Inc. has a fifty-two week low of $121.86 and a fifty-two week high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates 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, research analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials announced that its board has initiated a share buyback 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 purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership 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. Shareholders of record on Thursday, May 22nd will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.45%. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. Applied Materials’s dividend payout ratio is 24.05%.

Insider Transactions at Applied Materials

In other news, CAO Adam Sanders sold 450 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total transaction of $65,173.50. Following the sale, the chief accounting officer now owns 6,077 shares of the company’s stock, valued at approximately $880,131.91. This represents a 6.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMAT. Barclays lowered their price target on 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. Mizuho decreased their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company cut their price target on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, January 13th. KeyCorp raised shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price objective on the stock in a report on Friday, January 17th. Finally, Needham & Company LLC cut their target price on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.67.

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.