Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by Okabena Investment Services Inc.

Okabena Investment Services Inc. raised its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 204.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,601 shares of the manufacturing equipment provider’s stock after acquiring an additional 5,107 shares during the quarter. Okabena Investment Services Inc.’s holdings in Applied Materials were worth $1,236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB raised its holdings in Applied Materials by 8.6% in the 4th quarter. Nordea Investment Management AB now owns 2,077,107 shares of the manufacturing equipment provider’s stock valued at $340,895,000 after acquiring an additional 164,085 shares during the last quarter. Pensionfund Sabic lifted its position in Applied Materials by 38.9% during the fourth quarter. Pensionfund Sabic now owns 13,200 shares of the manufacturing equipment provider’s stock worth $2,147,000 after buying an additional 3,700 shares in the last quarter. Brookstone Capital Management boosted its stake in Applied Materials by 59.1% during the fourth quarter. Brookstone Capital Management now owns 45,378 shares of the manufacturing equipment provider’s stock worth $7,380,000 after buying an additional 16,851 shares during the last quarter. Advisors Management Group Inc. ADV purchased a new stake in Applied Materials in the 4th quarter valued at $339,000. Finally, Rheos Capital Works Inc. increased its stake in shares of Applied Materials by 2.7% in the 4th quarter. Rheos Capital Works Inc. now owns 170,100 shares of the manufacturing equipment provider’s stock worth $27,663,000 after acquiring an additional 4,500 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Down 1.8 %

AMAT opened at $145.06 on Friday. The business has a 50 day simple moving average of $167.33 and a 200-day simple moving average of $176.91. Applied Materials, Inc. has a 12 month low of $144.12 and a 12 month high of $255.89. The stock has a market capitalization of $117.85 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.81 and a beta of 1.62. 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 issued its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share 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, equities analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials announced that its board has initiated 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

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 given a $0.46 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.27%. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is currently 24.05%.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction dated 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 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

AMAT has been the subject of a number of analyst reports. Sanford C. Bernstein dropped their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, November 29th. The Goldman Sachs Group decreased their price objective on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Stifel Nicolaus cut their target price on Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Citigroup raised their target price on Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Edward Jones upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $214.67.

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.