Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by APG Asset Management N.V.

APG Asset Management N.V. grew its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 611.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 824,407 shares of the manufacturing equipment provider’s stock after purchasing an additional 708,541 shares during the period. APG Asset Management N.V. owned approximately 0.10% of Applied Materials worth $129,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMAT. Crews Bank & Trust purchased a new stake in Applied Materials in the 4th quarter valued at $28,000. FPC Investment Advisory Inc. purchased a new position in shares of Applied Materials during the 4th quarter worth $28,000. YANKCOM Partnership purchased a new stake in shares of Applied Materials in the fourth quarter valued at about $32,000. City Holding Co. acquired a new stake in Applied Materials during the fourth quarter worth about $39,000. Finally, Dunhill Financial LLC increased its position in Applied Materials by 61.4% during 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 during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Insider Activity

In other Applied Materials news, CEO Gary E. Dickerson purchased 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average price of $137.30 per share, for a total transaction of $6,865,000.00. Following the purchase, the chief executive officer now directly owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. This trade represents a 3.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Adam Sanders sold 271 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $172.72, for a total transaction of $46,807.12. Following the completion of the sale, the chief accounting officer now directly 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 disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Applied Materials Stock Up 4.6 %

Shares of NASDAQ:AMAT opened at $132.85 on Tuesday. 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 firm has a 50 day simple moving average of $161.36 and a 200-day simple moving average of $174.75. The company has a market capitalization of $107.93 billion, a PE ratio of 17.37, a P/E/G ratio of 1.81 and a beta of 1.61. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $255.89.

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, 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%. On average, equities analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials announced that its Board of Directors has authorized a stock buyback program on Monday, March 10th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors 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. Shareholders of record on Thursday, May 22nd will be paid a $0.46 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.39%. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s payout ratio is currently 24.05%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AMAT shares. Edward Jones raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Susquehanna increased their price objective on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Barclays reduced their target price 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. Citigroup increased their price target on Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company lowered their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.