Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Jacobs & Co. CA

Jacobs & Co. CA raised its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,816 shares of the manufacturing equipment provider's stock after buying an additional 3,143 shares during the quarter. Jacobs & Co. CA's holdings in Applied Materials were worth $10,421,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Crews Bank & Trust acquired a new position in Applied Materials during the fourth quarter worth $28,000. FPC Investment Advisory Inc. acquired a new position in Applied Materials during the 4th quarter worth about $28,000. YANKCOM Partnership acquired a new stake in shares of Applied Materials during the fourth quarter worth about $32,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Applied Materials during the fourth quarter worth about $44,000. Finally, Atala Financial Inc acquired a new stake in shares of Applied Materials during the fourth quarter worth about $45,000. Institutional investors and hedge funds own 80.56% of the company's stock.

Applied Materials Price Performance

AMAT traded down $4.37 on Friday, hitting $155.11. 15,237,512 shares of the company were exchanged, compared to its average volume of 6,961,412. The firm has a market capitalization of $126.02 billion, a P/E ratio of 20.28, a price-to-earnings-growth 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 fifty day moving average is $150.67 and its 200 day moving average is $163.70. Applied Materials, Inc. has a fifty-two week low of $123.74 and a fifty-two week high of $255.89.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $7.10 billion for the quarter, compared to analysts' expectations of $7.12 billion. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. The firm's revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.09 EPS. As a group, sell-side 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 share 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 purchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

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 represents a $1.84 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, May 22nd. This is a boost from Applied Materials's previous quarterly dividend of $0.40. Applied Materials's dividend payout ratio is 22.38%.

Insider Buying and Selling at Applied Materials

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. TD Cowen reduced their target price on shares of Applied Materials from $225.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Morgan Stanley cut their price target on shares of Applied Materials from $164.00 to $162.00 and set an "underweight" rating on the stock in a research note on Friday, May 16th. Mizuho cut their price target on Applied Materials from $205.00 to $195.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Jefferies Financial Group upgraded shares of Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 price objective on the stock in a research note on Friday, March 28th. Finally, Bank of America dropped their target price on Applied Materials from $205.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $199.48.

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.