Wealth Enhancement Advisory Services LLC Has $32.94 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 10.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 226,950 shares of the manufacturing equipment provider's stock after purchasing an additional 21,974 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Applied Materials were worth $32,935,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AMAT. Norges Bank bought a new stake in Applied Materials in the fourth quarter worth $1,588,422,000. GAMMA Investing LLC boosted its stake 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 worth $2,647,430,000 after acquiring an additional 1,814,444 shares in the last quarter. Northern Trust Corp boosted its stake 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 worth $1,663,780,000 after acquiring an additional 1,602,645 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake 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 acquiring an additional 1,471,953 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in Applied Materials by 10,767.6% during the fourth quarter. Two Sigma Investments LP now owns 1,347,580 shares of the manufacturing equipment provider's stock worth $219,157,000 after purchasing an additional 1,335,180 shares during the period. Institutional investors own 80.56% of the company's stock.

Applied Materials Price Performance

Shares of NASDAQ AMAT traded down $3.38 during midday trading on Friday, reaching $169.46. 18,385,582 shares of the company traded hands, compared to its average volume of 6,663,377. The stock's 50-day simple moving average is $159.11 and its 200-day simple moving average is $162.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month high of $255.89. The firm has a market cap of $135.99 billion, a PE ratio of 18.40, a PEG ratio of 1.89 and a beta of 1.67.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings results 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 analyst estimates 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 for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.09 earnings per share. As a group, equities analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials announced that its Board of Directors has authorized a stock buyback program on Monday, March 10th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials's dividend payout ratio is currently 22.38%.

Insider Transactions at Applied Materials

In other news, CEO Gary E. Dickerson acquired 50,000 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer now owns 1,716,058 shares of the company's stock, valued at approximately $235,614,763.40. This represents a 3.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Adam Sanders sold 450 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total value of $65,173.50. Following the sale, the chief accounting officer now owns 6,077 shares of the company's stock, valued at approximately $880,131.91. The trade was a 6.89% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wells Fargo & Company reiterated a "mixed" rating on shares of Applied Materials in a report on Friday, May 16th. TD Cowen lowered their target price on Applied Materials from $225.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, May 16th. B. Riley cut their price target on Applied Materials from $250.00 to $215.00 and set a "buy" rating for the company in a report on Monday, May 12th. Needham & Company LLC reiterated a "buy" rating and set a $195.00 price target on shares of Applied Materials in a report on Friday, May 16th. Finally, Jefferies Financial Group upgraded Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 price target for the company in a report on Friday, March 28th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $199.29.

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.