Commonwealth Equity Services LLC Has $55.86 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Commonwealth Equity Services LLC raised its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 0.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 343,463 shares of the manufacturing equipment provider’s stock after buying an additional 3,029 shares during the period. Commonwealth Equity Services LLC’s holdings in Applied Materials were worth $55,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crews Bank & Trust acquired a new position in shares of Applied Materials in the fourth quarter valued at $28,000. FPC Investment Advisory Inc. bought a new position in Applied Materials during the fourth quarter worth about $28,000. YANKCOM Partnership bought a new position in Applied Materials during the fourth quarter worth about $32,000. MidAtlantic Capital Management Inc. bought a new position in Applied Materials during the third quarter worth about $37,000. Finally, City Holding Co. bought a new position in Applied Materials during the fourth quarter worth about $39,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on AMAT. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research report on Friday, November 15th. Susquehanna raised their price target on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company lowered their price target on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group reduced their price objective on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Evercore ISI reduced their price objective on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and an average target price of $215.38.

Applied Materials Stock Up 3.8 %

NASDAQ:AMAT opened at $155.66 on Friday. The firm’s 50 day simple moving average is $172.54 and its 200 day simple moving average is $179.36. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. Applied Materials, Inc. has a one year low of $145.37 and a one year high of $255.89. The company has a market cap of $126.46 billion, a PE ratio of 20.35, a P/E/G ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, topping 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%. On average, research analysts anticipate 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 issued a dividend of $0.46 per share. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.18%. Applied Materials’s dividend payout ratio (DPR) is presently 24.05%.

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

Insiders Place Their Bets

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.24% of the company’s stock.

About Applied Materials

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.