PFG Investments LLC Increases Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

PFG Investments LLC boosted its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 288.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,047 shares of the manufacturing equipment provider's stock after purchasing an additional 8,947 shares during the quarter. PFG Investments LLC's holdings in Applied Materials were worth $2,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of AMAT. Redmont Wealth Advisors LLC purchased a new stake in Applied Materials in the first quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Applied Materials during the fourth quarter worth approximately $27,000. Global Wealth Management Investment Advisory Inc. raised its stake in shares of Applied Materials by 76.9% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider's stock worth $32,000 after acquiring an additional 100 shares in the last quarter. DSM Capital Partners LLC purchased a new position in shares of Applied Materials during the fourth quarter worth approximately $37,000. Finally, BluePath Capital Management LLC purchased a new position in shares of Applied Materials during the third quarter worth approximately $39,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Stock Up 3.0 %

Shares of Applied Materials stock traded up $5.88 during midday trading on Friday, hitting $203.38. The company had a trading volume of 3,933,453 shares, compared to its average volume of 4,553,379. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.91 and a current ratio of 2.71. The stock has a market capitalization of $168.99 billion, a P/E ratio of 23.93, a P/E/G ratio of 3.04 and a beta of 1.59. The company has a 50 day moving average of $203.42 and a 200 day moving average of $171.98. Applied Materials, Inc. has a 52-week low of $109.15 and a 52-week high of $214.91.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 EPS for the quarter, beating the consensus estimate of $1.90 by $0.23. Applied Materials had a return on equity of 43.56% and a net margin of 27.03%. The business had revenue of $6.71 billion for the quarter, compared to the consensus estimate of $6.48 billion. During the same period last year, the business posted $2.03 EPS. The company's revenue was down .4% compared to the same quarter last year. On average, equities analysts predict that Applied Materials, Inc. will post 8.04 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.79%. This is an increase from Applied Materials's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, May 22nd. Applied Materials's dividend payout ratio (DPR) is currently 15.06%.

Analyst Upgrades and Downgrades

Several research analysts have commented on AMAT shares. Bank Of America (Bofa) lifted their price target on shares of Applied Materials from $170.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, January 18th. Cantor Fitzgerald raised shares of Applied Materials from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $220.00 to $260.00 in a research note on Monday, April 8th. Barclays lifted their target price on shares of Applied Materials from $120.00 to $140.00 and gave the stock an "underweight" rating in a research note on Tuesday, January 16th. Morgan Stanley lifted their target price on shares of Applied Materials from $142.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Monday, February 12th. Finally, Susquehanna lifted their target price on shares of Applied Materials from $138.00 to $160.00 and gave the stock a "neutral" rating in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $201.50.

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.

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