Capital Investment Counsel Inc Buys 11,070 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Capital Investment Counsel Inc lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 18.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,601 shares of the manufacturing equipment provider's stock after acquiring an additional 11,070 shares during the period. Applied Materials makes up about 1.6% of Capital Investment Counsel Inc's investment portfolio, making the stock its 11th largest holding. Capital Investment Counsel Inc's holdings in Applied Materials were worth $10,536,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Skye Global Management LP acquired a new stake in Applied Materials in the 4th quarter worth about $45,862,000. Value Partners Investments Inc. increased its position in Applied Materials by 8.7% during the 4th quarter. Value Partners Investments Inc. now owns 9,896 shares of the manufacturing equipment provider's stock worth $1,608,000 after purchasing an additional 793 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. acquired a new position in Applied Materials during the 1st quarter worth approximately $230,000. Townsquare Capital LLC grew its holdings in Applied Materials by 15.6% during the 4th quarter. Townsquare Capital LLC now owns 71,577 shares of the manufacturing equipment provider's stock worth $11,640,000 after acquiring an additional 9,672 shares during the last quarter. Finally, Argentarii LLC bought a new stake in Applied Materials during the 4th quarter worth approximately $471,000. Institutional investors own 80.56% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AMAT. Edward Jones upgraded shares of Applied Materials from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. B. Riley reduced 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. Mizuho cut their target price 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. Needham & Company LLC reiterated a "buy" rating and set a $195.00 price objective on shares of Applied Materials in a research note on Friday, May 16th. Finally, Wells Fargo & Company reissued a "mixed" rating on shares of Applied Materials in a report on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $200.76.

Applied Materials Stock Up 0.4%

Shares of NASDAQ AMAT traded up $0.85 on Thursday, hitting $190.86. The company had a trading volume of 3,568,536 shares, compared to its average volume of 7,077,976. The firm has a market capitalization of $153.17 billion, a P/E ratio of 23.22, a PEG ratio of 2.12 and a beta of 1.69. 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 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average of $165.87 and a two-hundred day moving average of $163.65.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, topping analysts' consensus estimates of $2.31 by $0.08. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The business had revenue of $7.10 billion for the quarter, compared to analysts' expectations of $7.12 billion. During the same period in the prior year, the firm earned $2.09 EPS. The business's quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities research analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, August 21st. Applied Materials's dividend payout ratio (DPR) is presently 22.38%.

Applied Materials announced that its board has initiated a stock buyback plan 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 reacquire up to 8.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CAO Adam Sanders sold 562 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total value of $100,373.20. Following the transaction, the chief accounting officer directly owned 5,300 shares of the company's stock, valued at $946,580. The trade was a 9.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.