Audent Global Asset Management LLC Buys 24,385 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Audent Global Asset Management LLC increased its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 360.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,155 shares of the manufacturing equipment provider's stock after purchasing an additional 24,385 shares during the period. Applied Materials makes up 3.3% of Audent Global Asset Management LLC's holdings, making the stock its 11th biggest holding. Audent Global Asset Management LLC's holdings in Applied Materials were worth $5,067,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Crews Bank & Trust acquired a new position in Applied Materials during the fourth quarter worth about $28,000. FPC Investment Advisory Inc. acquired a new position in Applied Materials during the fourth quarter worth about $28,000. YANKCOM Partnership acquired a new position in Applied Materials during the fourth quarter worth about $32,000. Atala Financial Inc acquired a new position in Applied Materials during the fourth quarter worth about $45,000. Finally, Minot DeBlois Advisors LLC acquired a new position in Applied Materials during the fourth quarter worth about $46,000. Institutional investors own 80.56% of the company's stock.

Insider Transactions at Applied Materials

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMAT. Wells Fargo & Company restated a "mixed" rating on shares of Applied Materials in a report on Friday, May 16th. TD Cowen reduced their price target on Applied Materials from $225.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Raymond James restated an "outperform" rating and set a $200.00 price target (down from $225.00) on shares of Applied Materials in a report on Friday, May 16th. Edward Jones upgraded Applied Materials from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Finally, Barclays reduced their price target on Applied Materials from $190.00 to $160.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $199.48.

Applied Materials Trading Down 2.7%

AMAT traded down $4.37 during trading on Friday, hitting $155.11. The company's stock had a trading volume of 15,237,512 shares, compared to its average volume of 6,961,412. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve 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 stock's fifty day moving average price is $150.67 and its 200-day moving average price is $163.70. The firm has a market capitalization of $126.02 billion, a P/E ratio of 20.28, a PEG ratio of 1.81 and a beta of 1.71.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $7.12 billion. During the same period in the previous year, the firm earned $2.09 earnings per share. The company's revenue was up 6.8% compared to the same quarter last year. 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 authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to reacquire up to 8.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.19%. 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. Applied Materials's dividend payout ratio is presently 22.38%.

Applied Materials 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.