FORA Capital LLC Invests $13.64 Million in Applied Materials, Inc. (NASDAQ:AMAT)

FORA Capital LLC purchased a new position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 83,842 shares of the manufacturing equipment provider's stock, valued at approximately $13,635,000. Applied Materials comprises 1.6% of FORA Capital LLC's investment portfolio, making the stock its 7th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in AMAT. Crews Bank & Trust bought a new stake in Applied Materials during the 4th quarter valued at $28,000. FPC Investment Advisory Inc. acquired a new position in shares of Applied Materials during the fourth quarter valued at $28,000. YANKCOM Partnership acquired a new stake in Applied Materials in the fourth quarter worth about $32,000. City Holding Co. bought a new position in Applied Materials in the 4th quarter valued at about $39,000. Finally, Atala Financial Inc acquired a new position in Applied Materials during the 4th quarter valued at about $45,000. 80.56% of the stock is currently owned by institutional investors.

Insider Activity at Applied Materials

In other news, CAO Adam Sanders sold 271 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the sale, the chief accounting officer now directly owns 6,479 shares of the company's stock, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gary E. Dickerson acquired 50,000 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the transaction, the chief executive officer now directly owns 1,716,058 shares in the company, 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 currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented 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. Edward Jones raised Applied Materials from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Bank of America cut their price objective on Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Barclays dropped their price target on shares of Applied Materials from $190.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Citigroup reduced their price objective on shares of Applied Materials from $202.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $208.86.

Applied Materials Stock Down 0.2 %

Shares of NASDAQ AMAT traded down $0.31 during trading hours on Friday, hitting $155.69. The stock had a trading volume of 3,884,203 shares, compared to its average volume of 6,758,525. The firm's 50-day moving average price is $147.27 and its two-hundred day moving average price is $165.88. Applied Materials, Inc. has a 52 week low of $123.74 and a 52 week high of $255.89. The company has a market capitalization of $126.49 billion, a P/E ratio of 20.35, a P/E/G 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.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials announced that its Board of Directors has initiated a stock repurchase program on Monday, March 10th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Applied Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be issued a dividend of $0.46 per share. This is an increase from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials's dividend payout ratio is currently 24.05%.

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.