SP Asset Management LLC Has $9.47 Million Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

SP Asset Management LLC boosted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 175.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,200 shares of the manufacturing equipment provider’s stock after buying an additional 37,071 shares during the period. Applied Materials makes up about 0.8% of SP Asset Management LLC’s portfolio, making the stock its 29th largest position. SP Asset Management LLC’s holdings in Applied Materials were worth $9,465,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. purchased a new position in Applied Materials during the 4th quarter worth $28,000. Crews Bank & Trust bought a new position in shares of Applied Materials during the 4th quarter worth approximately $28,000. MidAtlantic Capital Management Inc. bought a new position in shares of Applied Materials during the 3rd quarter worth approximately $37,000. YANKCOM Partnership bought a new position in shares of Applied Materials during the 4th quarter worth approximately $32,000. Finally, Dunhill Financial LLC lifted its position in shares of Applied Materials by 61.4% during the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after buying an additional 81 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the company’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 transaction, the chief accounting officer now owns 6,479 shares in the company, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is currently owned by insiders.

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $155.32 on Thursday. The stock has a market cap of $126.19 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.81 and a beta of 1.53. Applied Materials, Inc. has a fifty-two week low of $149.55 and a fifty-two week high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. The stock has a fifty day moving average of $174.50 and a 200-day moving average of $181.78.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be paid a $0.40 dividend. The ex-dividend date is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a yield of 1.03%. Applied Materials’s dividend payout ratio is presently 20.92%.

Wall Street Analyst Weigh In

Several research firms have commented on AMAT. Sanford C. Bernstein dropped their target price on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, November 29th. TD Cowen decreased their target price on Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Morgan Stanley reaffirmed an “underweight” rating and set a $164.00 target price (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. The Goldman Sachs Group reduced their target price on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, KeyCorp raised shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 target price for the company in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and a consensus 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.