Johnson Investment Counsel Inc. Has $3.16 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Johnson Investment Counsel Inc. raised its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 16.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,777 shares of the manufacturing equipment provider's stock after buying an additional 3,000 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Applied Materials were worth $3,160,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Applied Materials during the fourth quarter worth approximately $1,588,422,000. GAMMA Investing LLC lifted its position in shares of Applied Materials by 18,402.1% during the 1st quarter. GAMMA Investing LLC now owns 1,824,304 shares of the manufacturing equipment provider's stock valued at $2,647,430,000 after acquiring an additional 1,814,444 shares during the period. Northern Trust Corp lifted its position in shares of Applied Materials by 18.6% during 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 during the period. Kovitz Investment Group Partners LLC grew its holdings in shares of Applied Materials by 301.6% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,959,997 shares of the manufacturing equipment provider's stock worth $318,754,000 after purchasing an additional 1,471,953 shares in the last quarter. Finally, Two Sigma Investments LP raised its stake in Applied Materials by 10,767.6% in the fourth quarter. Two Sigma Investments LP now owns 1,347,580 shares of the manufacturing equipment provider's stock valued at $219,157,000 after purchasing an additional 1,335,180 shares in the last quarter. Institutional investors own 80.56% of the company's stock.

Insider Activity

In other news, CAO Adam Sanders sold 450 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total value of $65,173.50. Following the sale, the chief accounting officer now directly owns 6,077 shares of the company's stock, valued at approximately $880,131.91. This represents a 6.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gary E. Dickerson acquired 50,000 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average price of $137.30 per share, with a total value of $6,865,000.00. Following the completion of the transaction, the chief executive officer now 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. Insiders own 0.24% of the company's stock.

Applied Materials Stock Down 0.7%

Shares of NASDAQ AMAT opened at $172.84 on Friday. The company has a 50 day simple moving average of $158.62 and a 200 day simple moving average of $163.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76. Applied Materials, Inc. has a 1 year low of $123.74 and a 1 year high of $255.89. The firm has a market cap of $138.70 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.92 and a beta of 1.67.

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 (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.08. The firm had revenue of $7.10 billion during the quarter, compared to analysts' expectations of $7.12 billion. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The company's revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 EPS. On average, research analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials declared that its Board of Directors has initiated a share repurchase plan 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 plans are generally a sign that the company's board of directors believes its shares are undervalued.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be given a $0.46 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.06%. Applied Materials's dividend payout ratio (DPR) is presently 22.38%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. 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. Bank of America cut their price target on shares of Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Needham & Company LLC reissued a "buy" rating and issued a $195.00 price objective on shares of Applied Materials in a research note on Friday, May 16th. JPMorgan Chase & Co. cut their target price on Applied Materials from $240.00 to $210.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, Mizuho reduced their target price on Applied Materials from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, Applied Materials currently has an average rating of "Moderate Buy" and a consensus target price of $199.29.

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.

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