AlphaQuest LLC Boosts Stake in Applied Materials, Inc. (NASDAQ:AMAT)

AlphaQuest LLC raised its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 201.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,510 shares of the manufacturing equipment provider’s stock after buying an additional 2,345 shares during the quarter. AlphaQuest LLC’s holdings in Applied Materials were worth $571,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new stake in Applied Materials during the fourth quarter valued at about $28,000. Crews Bank & Trust purchased a new stake in Applied Materials during the fourth quarter valued at about $28,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Applied Materials in the third quarter worth about $37,000. YANKCOM Partnership purchased a new stake in shares of Applied Materials in the fourth quarter worth about $32,000. Finally, Dunhill Financial LLC boosted its position in shares of 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 buying an additional 81 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 1.4 %

AMAT opened at $149.06 on Thursday. Applied Materials, Inc. has a 12 month low of $145.37 and a 12 month 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 stock has a market cap of $121.10 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.81 and a beta of 1.62. The stock’s 50 day moving average price is $173.10 and its 200 day moving average price is $179.85.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 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%. As a group, research analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

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 is a positive change from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Thursday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 20.92%.

Applied Materials declared that its Board of Directors has initiated a share repurchase plan on Monday, March 10th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to purchase up to 8.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AMAT. Barclays decreased their target price on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Stifel Nicolaus decreased their target price on Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. 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 report on Friday, January 17th. Susquehanna upped their target price on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, TD Cowen decreased their target price on Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $215.38.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the completion of the transaction, the chief accounting officer now directly owns 6,479 shares of the company’s stock, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Applied Materials Company 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.