Counterpoint Mutual Funds LLC Purchases 2,768 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Counterpoint Mutual Funds LLC boosted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 221.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,019 shares of the manufacturing equipment provider’s stock after buying an additional 2,768 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Applied Materials were worth $654,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Applied Materials by 1.8% in the third quarter. State Street Corp now owns 38,808,047 shares of the manufacturing equipment provider’s stock worth $7,841,178,000 after purchasing an additional 672,548 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Applied Materials by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 19,826,373 shares of the manufacturing equipment provider’s stock worth $3,994,968,000 after buying an additional 371,866 shares during the period. FMR LLC grew its position in shares of Applied Materials by 5.5% in the 3rd quarter. FMR LLC now owns 16,413,112 shares of the manufacturing equipment provider’s stock worth $3,316,269,000 after buying an additional 858,122 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Applied Materials by 3.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,861,933 shares of the manufacturing equipment provider’s stock valued at $1,790,554,000 after buying an additional 318,445 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Applied Materials by 1.3% in the fourth quarter. Van ECK Associates Corp now owns 6,655,308 shares of the manufacturing equipment provider’s stock worth $1,082,353,000 after acquiring an additional 84,130 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 3.8 %

Shares of AMAT opened at $155.66 on Monday. Applied Materials, Inc. has a one year low of $145.37 and a one year high of $255.89. The stock has a market capitalization of $126.46 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.81 and a beta of 1.62. The stock has a 50 day moving average price of $172.54 and a 200 day moving average price of $179.15. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67.

Applied Materials (NASDAQ:AMAT) last announced 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 net margin of 22.95% and a return on equity of 39.50%. Equities research analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.18%. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 24.05%.

Applied Materials announced that its board has initiated a share repurchase plan on Monday, March 10th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to buy up to 8.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

AMAT has been the topic of several research analyst reports. Morgan Stanley reiterated an “underweight” rating and set a $164.00 price target (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Edward Jones raised Applied Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Citigroup lifted their price target on Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Sanford C. Bernstein decreased their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, November 29th. Finally, Needham & Company LLC dropped their target price on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, February 14th. One research 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 data from MarketBeat.com, Applied Materials currently has an average rating of “Moderate Buy” and an average target price of $215.38.

Insider Activity at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the company’s 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 transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at $1,119,052.88. This represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is owned by insiders.

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.