Abrams Bison Investments LLC Has $142.30 Million Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Abrams Bison Investments LLC grew its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 875,000 shares of the manufacturing equipment provider's stock after purchasing an additional 125,000 shares during the quarter. Applied Materials comprises approximately 14.7% of Abrams Bison Investments LLC's investment portfolio, making the stock its 3rd largest position. Abrams Bison Investments LLC owned approximately 0.11% of Applied Materials worth $142,301,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mission Creek Capital Partners Inc. raised its position in shares of Applied Materials by 69.8% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 12,994 shares of the manufacturing equipment provider's stock worth $2,113,000 after purchasing an additional 5,340 shares during the period. Prosperity Consulting Group LLC raised its holdings in Applied Materials by 36.2% during the fourth quarter. Prosperity Consulting Group LLC now owns 1,844 shares of the manufacturing equipment provider's stock worth $300,000 after buying an additional 490 shares during the last quarter. Johnson Financial Group Inc. lifted its stake in shares of Applied Materials by 31.1% in the fourth quarter. Johnson Financial Group Inc. now owns 5,793 shares of the manufacturing equipment provider's stock valued at $1,045,000 after buying an additional 1,374 shares in the last quarter. Boothbay Fund Management LLC grew its holdings in shares of Applied Materials by 43.4% during the fourth quarter. Boothbay Fund Management LLC now owns 3,407 shares of the manufacturing equipment provider's stock valued at $554,000 after buying an additional 1,031 shares during the last quarter. Finally, Virtus ETF Advisers LLC increased its position in shares of Applied Materials by 44.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 6,204 shares of the manufacturing equipment provider's stock worth $1,009,000 after acquiring an additional 1,916 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Gary E. Dickerson acquired 50,000 shares of the stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average price of $137.30 per share, for a total transaction of $6,865,000.00. Following the transaction, the chief executive officer now owns 1,716,058 shares in the company, valued at $235,614,763.40. This represents a 3.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Adam Sanders sold 271 shares of the company'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 transaction, the chief accounting officer now owns 6,479 shares of the company's stock, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

Applied Materials Price Performance

Shares of Applied Materials stock traded up $6.98 on Friday, reaching $155.94. The stock had a trading volume of 3,166,040 shares, compared to its average volume of 6,700,077. The business's 50 day moving average is $147.73 and its two-hundred day moving average is $167.25. The company has a market cap of $126.69 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 1.81 and a beta of 1.61. Applied Materials, Inc. has a 1 year low of $123.74 and a 1 year high of $255.89. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, beating 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%. As a group, research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials announced that its Board of Directors has initiated a stock 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 buy up to 8.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be issued a dividend of $0.46 per share. This is a positive change 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 1.18%. Applied Materials's payout ratio is presently 24.05%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Bank of America lowered their price objective on Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Needham & Company LLC dropped their price objective on Applied Materials from $200.00 to $195.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Jefferies Financial Group upgraded shares of 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, March 28th. Susquehanna upped their target price on Applied Materials from $155.00 to $165.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company dropped their price target on Applied Materials from $210.00 to $200.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Applied Materials has an average rating of "Moderate Buy" and an average target price of $208.86.

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.