Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC raised its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 221.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,019 shares of the manufacturing equipment provider’s stock after acquiring an additional 2,768 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Applied Materials were worth $654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in AMAT. Swedbank AB increased its holdings in shares of Applied Materials by 2.6% in the 3rd quarter. Swedbank AB now owns 4,244,566 shares of the manufacturing equipment provider’s stock valued at $857,615,000 after acquiring an additional 108,827 shares during the period. OneDigital Investment Advisors LLC increased its stake in Applied Materials by 13.1% in the third quarter. OneDigital Investment Advisors LLC now owns 13,223 shares of the manufacturing equipment provider’s stock valued at $2,672,000 after purchasing an additional 1,531 shares during the period. Sawgrass Asset Management LLC raised its holdings in shares of Applied Materials by 19.0% in the third quarter. Sawgrass Asset Management LLC now owns 98,484 shares of the manufacturing equipment provider’s stock valued at $19,899,000 after buying an additional 15,755 shares during the last quarter. Concord Asset Management LLC VA boosted its stake in shares of Applied Materials by 16.1% during the third quarter. Concord Asset Management LLC VA now owns 11,404 shares of the manufacturing equipment provider’s stock worth $2,304,000 after buying an additional 1,578 shares during the period. Finally, RiverPark Advisors LLC purchased a new position in shares of Applied Materials during the third quarter worth about $794,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Susquehanna lifted their target price on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Barclays lowered their price objective on shares of 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. KeyCorp upgraded shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 target price for the company in a research note on Friday, January 17th. Wells Fargo & Company dropped 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 note on Monday, January 13th. Finally, Citigroup lifted their price objective on Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

Insider Transactions at Applied Materials

In other news, CAO Adam Sanders sold 271 shares of the company’s stock in a transaction 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 completion of 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 sale 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.

Applied Materials Stock Performance

Shares of AMAT opened at $155.66 on Monday. Applied Materials, Inc. has a 1 year low of $145.37 and a 1 year high of $255.89. The company’s 50 day simple moving average is $172.54 and its 200 day simple moving average is $179.15. The company 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 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 posted 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, sell-side analysts predict that Applied Materials, Inc. will post 9.38 EPS 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. The ex-dividend date of this dividend is Thursday, May 22nd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.18%. Applied Materials’s dividend payout ratio is currently 24.05%.

Applied Materials declared that its Board of Directors has approved a share buyback 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 purchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.