Mackenzie Financial Corp Has $32.25 Million Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Mackenzie Financial Corp increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 15.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,308 shares of the manufacturing equipment provider's stock after purchasing an additional 27,168 shares during the quarter. Mackenzie Financial Corp's holdings in Applied Materials were worth $32,251,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Applied Materials in the 4th quarter valued at about $1,588,422,000. Northern Trust Corp increased its position in Applied Materials by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,230,464 shares of the manufacturing equipment provider's stock valued at $1,663,780,000 after acquiring an additional 1,602,645 shares in the last quarter. Kovitz Investment Group Partners LLC increased its position in Applied Materials by 301.6% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,959,997 shares of the manufacturing equipment provider's stock valued at $318,754,000 after acquiring an additional 1,471,953 shares in the last quarter. Two Sigma Investments LP increased its position in Applied Materials by 10,767.6% in the 4th quarter. Two Sigma Investments LP now owns 1,347,580 shares of the manufacturing equipment provider's stock valued at $219,157,000 after acquiring an additional 1,335,180 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Applied Materials in the 4th quarter valued at about $182,962,000. Institutional investors and hedge funds own 80.56% of the company's stock.

Applied Materials Trading Down 3.6%

Applied Materials stock traded down $5.80 during midday trading on Friday, hitting $153.68. 3,733,420 shares of the stock were exchanged, compared to its average volume of 7,475,280. The company has a fifty day simple moving average of $150.64 and a two-hundred day simple moving average of $163.92. Applied Materials, Inc. has a 52 week low of $123.74 and a 52 week high of $255.89. The stock has a market capitalization of $124.86 billion, a PE ratio of 20.09, a P/E/G ratio of 1.81 and a beta of 1.71. 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 (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.08. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter last year, the firm earned $2.09 EPS. Applied Materials's quarterly revenue was up 6.8% compared to the same quarter last year. Equities research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be issued a dividend of $0.46 per share. This is an increase from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.20%. The ex-dividend date is Thursday, May 22nd. Applied Materials's dividend payout ratio (DPR) is 22.38%.

Applied Materials announced that its Board of Directors has approved a stock repurchase program 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 repurchase up to 8.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have weighed in on AMAT. Citigroup raised their price objective on shares of Applied Materials from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Barclays lowered their price objective on shares of Applied Materials from $190.00 to $160.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Mizuho lowered their price objective on shares of Applied Materials from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Raymond James reiterated an "outperform" rating and set a $200.00 price target (down previously from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. Finally, B. Riley lowered their price target on shares of Applied Materials from $250.00 to $215.00 and set a "buy" rating for the company in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Applied Materials currently has a consensus rating of "Moderate Buy" and a consensus price target of $199.48.

Insiders Place Their Bets

In other Applied Materials news, CAO Adam Sanders sold 450 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total transaction of $65,173.50. Following the sale, the chief accounting officer now directly owns 6,077 shares in the company, valued at approximately $880,131.91. This trade represents a 6.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gary E. Dickerson bought 50,000 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were bought at an average price of $137.30 per share, for a total transaction of $6,865,000.00. Following the completion of the acquisition, the chief executive officer now directly 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. Corporate insiders own 0.24% of the company's stock.

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.