Applied Materials, Inc. (NASDAQ:AMAT) Position Lifted by Hazlett Burt & Watson Inc.

Hazlett Burt & Watson Inc. raised its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 3.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,956 shares of the manufacturing equipment provider’s stock after purchasing an additional 117 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Applied Materials were worth $645,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. FPC Investment Advisory Inc. bought a new stake in Applied Materials in the fourth quarter valued at about $28,000. Crews Bank & Trust acquired a new position in shares of Applied Materials in the 4th quarter worth approximately $28,000. YANKCOM Partnership bought a new stake in shares of Applied Materials in the 4th quarter valued at approximately $32,000. Dunhill Financial LLC increased its holdings in shares of Applied Materials by 61.4% in the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after acquiring an additional 81 shares during the last quarter. Finally, City Holding Co. acquired a new stake in shares of Applied Materials during the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Performance

AMAT opened at $145.06 on Monday. Applied Materials, Inc. has a 1-year low of $143.38 and a 1-year high of $255.89. The company has a market capitalization of $117.85 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. The business has a 50 day moving average price of $167.33 and a two-hundred day moving average price of $176.84. 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 announced its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, beating 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%. Research analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials declared that its board has authorized 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 buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Applied Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.27%. 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. Applied Materials’s dividend payout ratio (DPR) is presently 24.05%.

Insiders Place Their Bets

In other news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction 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 directly owns 6,479 shares of the company’s stock, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on AMAT shares. Wells Fargo & Company lowered their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Needham & Company LLC lowered their price objective on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company 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 price objective on the stock in a research note on Friday, January 17th. Jefferies Financial Group upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research note on Friday. Finally, Morgan Stanley reiterated an “underweight” rating and set a $164.00 price target (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and an average price target 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.