Verus Capital Partners LLC Has $1.76 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Verus Capital Partners LLC increased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 8.7% during the fourth quarter, Holdings Channel reports. The firm owned 10,825 shares of the manufacturing equipment provider’s stock after acquiring an additional 866 shares during the period. Verus Capital Partners LLC’s holdings in Applied Materials were worth $1,761,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in Applied Materials in the 4th quarter valued at about $28,000. Crews Bank & Trust acquired a new stake in shares of Applied Materials during the 4th quarter worth approximately $28,000. MidAtlantic Capital Management Inc. bought a new position in Applied Materials in the third quarter valued at approximately $37,000. YANKCOM Partnership bought a new position in Applied Materials in the fourth quarter valued at approximately $32,000. Finally, Dunhill Financial LLC raised its position in Applied Materials by 61.4% during the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMAT. Deutsche Bank Aktiengesellschaft decreased their price target on Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. Needham & Company LLC reduced their price objective on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Evercore ISI lowered their target price on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Mizuho reduced their price target on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Finally, Bank of America decreased their price target on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $215.38.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 6,479 shares of the company’s stock, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.24% of the company’s stock.

Applied Materials Price Performance

Applied Materials stock opened at $156.67 on Friday. The stock’s 50 day moving average is $175.49 and its 200 day moving average is $183.27. Applied Materials, Inc. has a one year low of $156.38 and a one year high of $255.89. The firm has a market cap of $127.32 billion, a P/E ratio of 20.48, a P/E/G ratio of 1.81 and a beta of 1.53. 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 (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, beating 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%. As a group, research analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a yield of 1.02%. Applied Materials’s payout ratio is currently 20.92%.

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.