TCTC Holdings LLC Buys 70 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

TCTC Holdings LLC raised its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 7.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 977 shares of the manufacturing equipment provider’s stock after purchasing an additional 70 shares during the quarter. TCTC Holdings LLC’s holdings in Applied Materials were worth $159,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crews Bank & Trust bought a new stake in Applied Materials during the 4th quarter valued at $28,000. FPC Investment Advisory Inc. bought a new stake in Applied Materials during the 4th quarter valued at $28,000. YANKCOM Partnership bought a new stake in Applied Materials during the 4th quarter valued at $32,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Applied Materials in the 3rd quarter worth $37,000. Finally, City Holding Co. bought a new stake in shares of Applied Materials in the 4th quarter worth $39,000. Institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

NASDAQ AMAT opened at $155.46 on Tuesday. The company has a market cap of $126.30 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a 52 week low of $145.37 and a 52 week high of $255.89. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The firm’s 50-day simple moving average is $172.10 and its two-hundred day simple moving average is $178.88.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping 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%. 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. Stockholders of record on Thursday, May 22nd will be issued a $0.46 dividend. 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 is Thursday, May 22nd. Applied Materials’s dividend payout ratio is presently 24.05%.

Applied Materials declared that its board has authorized a stock buyback program 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 repurchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AMAT shares. Morgan Stanley reiterated an “underweight” rating and issued a $164.00 target price (down previously from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Barclays reduced their target price on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Needham & Company LLC reduced 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. The Goldman Sachs Group reduced their target price on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Susquehanna upped their target price on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. One 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $215.38.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the company’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 value of $46,807.12. Following the transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $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 accessible through the SEC website. 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.