O Shaughnessy Asset Management LLC Sells 8,538 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

O Shaughnessy Asset Management LLC trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT) by 9.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 78,410 shares of the manufacturing equipment provider’s stock after selling 8,538 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Applied Materials were worth $12,752,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Applied Materials during the fourth quarter valued at about $1,588,422,000. EdgePoint Investment Group Inc. boosted its position in Applied Materials by 341.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,857,155 shares of the manufacturing equipment provider’s stock worth $577,288,000 after buying an additional 2,209,218 shares during the period. Janus Henderson Group PLC boosted its position in Applied Materials by 67.8% during the 3rd quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider’s stock worth $942,187,000 after buying an additional 1,884,153 shares during the period. Raymond James Financial Inc. bought a new stake in Applied Materials during the 4th quarter worth approximately $182,962,000. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in Applied Materials in the 4th quarter valued at approximately $157,426,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Performance

NASDAQ AMAT opened at $145.12 on Tuesday. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $166.39 and a 200 day simple moving average of $176.57. Applied Materials, Inc. has a 12-month low of $141.16 and a 12-month high of $255.89. The company has a market cap of $117.90 billion, a P/E ratio of 18.97, a PEG ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS 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%. Sell-side analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be given a dividend of $0.46 per share. 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 1.27%. Applied Materials’s payout ratio is presently 24.05%.

Applied Materials announced that its Board of Directors has initiated a share buyback program on Monday, March 10th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the manufacturing equipment provider to purchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Susquehanna boosted their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Needham & Company LLC decreased their price target on Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Barclays cut their price objective on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Edward Jones upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Stifel Nicolaus reduced their price objective on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and an average target price of $214.67.

Insider Activity 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 sale, the chief accounting officer now owns 6,479 shares in the company, valued at $1,119,052.88. This represents a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.24% of the stock is currently owned by insiders.

Applied Materials 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.