Essential Planning LLC. Makes New Investment in Applied Materials, Inc. (NASDAQ:AMAT)

Essential Planning LLC. purchased a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the 4th quarter, Holdings Channel reports. The firm purchased 20,683 shares of the manufacturing equipment provider’s stock, valued at approximately $3,364,000.

Other hedge funds also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new position in Applied Materials during the fourth quarter worth $28,000. Crews Bank & Trust purchased a new stake in shares of Applied Materials in the fourth quarter valued at $28,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Applied Materials in the third quarter valued at $37,000. YANKCOM Partnership purchased a new stake in shares of Applied Materials in the fourth quarter valued at $32,000. Finally, Dunhill Financial LLC grew its position in shares of Applied Materials by 61.4% in 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 during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Up 1.4 %

Shares of AMAT opened at $149.06 on Thursday. The stock’s 50-day moving average is $173.10 and its two-hundred day moving average is $179.85. The stock has a market cap of $121.10 billion, a PE ratio of 19.48, a P/E/G ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a 12 month low of $145.37 and a 12 month high of $255.89. 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 quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. Equities analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials declared that its board has approved a stock buyback program on Monday, March 10th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Applied Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be paid a $0.46 dividend. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 annualized dividend and a dividend yield of 1.23%. Applied Materials’s payout ratio is 20.92%.

Insider Buying and Selling

In related news, CAO Adam Sanders sold 271 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the transaction, the chief accounting officer now owns 6,479 shares in the company, valued at approximately $1,119,052.88. The trade was a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Stifel Nicolaus lowered their price objective on Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Morgan Stanley reaffirmed an “underweight” rating and issued a $164.00 price objective (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Susquehanna lifted their price objective on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Needham & Company LLC lowered their price objective on Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Finally, Barclays lowered their price target on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $215.38.

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.