Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Pacifica Partners Inc.

Pacifica Partners Inc. lifted its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,803 shares of the manufacturing equipment provider's stock after acquiring an additional 3,493 shares during the period. Applied Materials accounts for 2.5% of Pacifica Partners Inc.'s portfolio, making the stock its 9th largest position. Pacifica Partners Inc.'s holdings in Applied Materials were worth $5,529,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. FPC Investment Advisory Inc. purchased a new position in Applied Materials in the fourth quarter worth $28,000. Crews Bank & Trust purchased a new position in Applied Materials during the 4th quarter worth $28,000. YANKCOM Partnership acquired a new position in Applied Materials during the 4th quarter valued at about $32,000. Mascagni Wealth Management Inc. purchased a new stake in Applied Materials in the fourth quarter valued at about $44,000. Finally, Atala Financial Inc acquired a new stake in Applied Materials in the fourth quarter worth about $45,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Stock Performance

NASDAQ AMAT traded down $0.02 during mid-day trading on Wednesday, reaching $161.72. 2,815,641 shares of the stock were exchanged, compared to its average volume of 6,925,051. The company has a market capitalization of $129.78 billion, a P/E ratio of 21.14, a P/E/G ratio of 1.81 and a beta of 1.71. 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 business's 50 day moving average is $151.08 and its 200-day moving average is $163.32. Applied Materials, Inc. has a 1 year low of $123.74 and a 1 year high of $255.89.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, beating analysts' consensus estimates of $2.31 by $0.08. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. The firm had revenue of $7.10 billion for the quarter, compared to analysts' expectations of $7.12 billion. During the same period last year, the firm earned $2.09 EPS. The company's quarterly revenue was up 6.8% on a year-over-year basis. On average, equities research analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

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 given a $0.46 dividend. The ex-dividend date is Thursday, May 22nd. This is a boost from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.14%. Applied Materials's payout ratio is 22.38%.

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 outstanding 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 usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

AMAT has been the topic of several recent analyst reports. Wells Fargo & Company restated a "mixed" rating on shares of Applied Materials in a report on Friday, May 16th. Barclays cut their price target on shares of Applied Materials from $190.00 to $160.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. B. Riley dropped their price objective on shares of Applied Materials from $250.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Bank of America reduced their target price 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. Finally, Cantor Fitzgerald dropped their price target on Applied Materials from $220.00 to $200.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $199.48.

Insider Activity

In other news, CAO Adam Sanders sold 450 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total transaction of $65,173.50. Following the completion of the sale, the chief accounting officer now owns 6,077 shares of the company's stock, valued at $880,131.91. The trade was a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gary E. Dickerson purchased 50,000 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average cost of $137.30 per share, for a total transaction of $6,865,000.00. Following the completion of the purchase, the chief executive officer now directly owns 1,716,058 shares in the company, valued at $235,614,763.40. This represents a 3.00% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.24% of the company's stock.

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.