Aviso Wealth Management Takes $491,000 Position in Applied Materials, Inc. (NASDAQ:AMAT)

Aviso Wealth Management acquired a new position in Applied Materials, Inc. (NASDAQ:AMAT) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 3,017 shares of the manufacturing equipment provider’s stock, valued at approximately $491,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMAT. FPC Investment Advisory Inc. bought a new position in shares of Applied Materials in the 4th quarter worth about $28,000. Crews Bank & Trust bought a new stake in shares of Applied Materials in the 4th quarter worth approximately $28,000. YANKCOM Partnership bought a new position in Applied Materials during the 4th quarter valued at approximately $32,000. Dunhill Financial LLC raised its stake in Applied Materials by 61.4% during the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after buying an additional 81 shares during the last quarter. Finally, City Holding Co. bought a new stake in Applied Materials in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

Shares of Applied Materials stock opened at $153.64 on Wednesday. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 52 week low of $145.37 and a 52 week high of $255.89. The stock’s 50-day simple moving average is $169.60 and its 200-day simple moving average is $177.53. The company has a market capitalization of $124.82 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (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%. As a group, analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials announced that its board has authorized a stock buyback plan on Monday, March 10th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the manufacturing equipment provider to reacquire up to 8.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.20%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is 24.05%.

Insiders Place Their Bets

In related news, CAO Adam Sanders sold 271 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now owns 6,479 shares of the company’s stock, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AMAT shares. The Goldman Sachs Group lowered their price target on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Stifel Nicolaus dropped their target price 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. Barclays reduced their price target on shares of 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. KeyCorp raised Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price objective on the stock in a research report on Friday, January 17th. Finally, Wells Fargo & Company cut 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 report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and a consensus target price of $215.38.

Applied Materials Company 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.