Gotham Asset Management LLC Increases Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Gotham Asset Management LLC raised its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 67.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 198,858 shares of the manufacturing equipment provider's stock after purchasing an additional 80,220 shares during the quarter. Applied Materials accounts for 0.3% of Gotham Asset Management LLC's portfolio, making the stock its 20th biggest position. Gotham Asset Management LLC's holdings in Applied Materials were worth $32,340,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brookstone Capital Management boosted its holdings in shares of Applied Materials by 59.1% in the 4th quarter. Brookstone Capital Management now owns 45,378 shares of the manufacturing equipment provider's stock worth $7,380,000 after purchasing an additional 16,851 shares during the period. Advisors Management Group Inc. ADV acquired a new position in Applied Materials during the 4th quarter valued at approximately $339,000. Rheos Capital Works Inc. lifted its stake in Applied Materials by 2.7% during the 4th quarter. Rheos Capital Works Inc. now owns 170,100 shares of the manufacturing equipment provider's stock valued at $27,663,000 after acquiring an additional 4,500 shares during the period. Czech National Bank lifted its stake in Applied Materials by 6.0% during the 4th quarter. Czech National Bank now owns 178,748 shares of the manufacturing equipment provider's stock valued at $29,070,000 after acquiring an additional 10,081 shares during the period. Finally, Talbot Financial LLC grew its stake in shares of Applied Materials by 4.6% during the 4th quarter. Talbot Financial LLC now owns 117,361 shares of the manufacturing equipment provider's stock worth $19,086,000 after purchasing an additional 5,124 shares during the period. Hedge funds and other institutional investors own 80.56% of the company's stock.

Applied Materials Trading Up 1.7%

Applied Materials stock traded up $2.84 during mid-day trading on Tuesday, hitting $170.83. 1,247,504 shares of the stock were exchanged, compared to its average volume of 6,758,432. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month high of $255.89. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The firm's fifty day simple moving average is $147.52 and its two-hundred day simple moving average is $165.62. The stock has a market capitalization of $138.79 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 1.81 and a beta of 1.71.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings data 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 return on equity of 39.50% and a net margin of 22.95%. Analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials announced that its Board of Directors has authorized a stock repurchase program on Monday, March 10th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

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 issued a $0.46 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.08%. This is a boost from Applied Materials's previous quarterly dividend of $0.40. Applied Materials's dividend payout ratio (DPR) is currently 24.05%.

Insider Buying and Selling

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gary E. Dickerson bought 50,000 shares of the company's stock in a transaction dated Thursday, April 3rd. The stock was bought at an average price of $137.30 per share, with a total value of $6,865,000.00. Following the acquisition, the chief executive officer now owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. This trade represents a 3.00% increase in their position. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Jefferies Financial Group raised 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 raised their target price on Applied Materials from $155.00 to $165.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Barclays reduced their price objective on Applied Materials from $190.00 to $160.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Needham & Company LLC lowered 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. Finally, Bank of America lowered their price target on Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Applied Materials currently has an average rating of "Moderate Buy" and an average target price of $208.86.

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.