Edgemoor Investment Advisors Inc. Buys 1,019 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Edgemoor Investment Advisors Inc. lifted its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 0.7% in the fourth quarter, Holdings Channel reports. The firm owned 153,781 shares of the manufacturing equipment provider’s stock after buying an additional 1,019 shares during the period. Applied Materials comprises about 2.2% of Edgemoor Investment Advisors Inc.’s portfolio, making the stock its 13th largest position. Edgemoor Investment Advisors Inc.’s holdings in Applied Materials were worth $25,010,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AMAT. EdgePoint Investment Group Inc. raised its stake in Applied Materials by 341.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,857,155 shares of the manufacturing equipment provider’s stock worth $577,288,000 after acquiring an additional 2,209,218 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Applied Materials by 67.8% in the third quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider’s stock worth $942,187,000 after buying an additional 1,884,153 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Applied Materials during the fourth quarter valued at approximately $182,962,000. Alecta Tjanstepension Omsesidigt purchased a new stake in Applied Materials in the 4th quarter worth approximately $157,426,000. Finally, Flossbach Von Storch SE grew its stake in shares of Applied Materials by 126.6% during the 4th quarter. Flossbach Von Storch SE now owns 1,600,078 shares of the manufacturing equipment provider’s stock worth $260,221,000 after purchasing an additional 893,995 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AMAT. KeyCorp upgraded shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price target on the stock in a research report on Friday, January 17th. Needham & Company LLC lowered their price target on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Barclays reduced their target price on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Sanford C. Bernstein decreased their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. Finally, Edward Jones upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $215.38.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the business’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 transaction, the chief accounting officer now owns 6,479 shares in the company, valued at $1,119,052.88. The trade was a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

Applied Materials Trading Up 3.8 %

NASDAQ:AMAT opened at $155.66 on Monday. The firm has a market cap of $126.46 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average price of $172.54 and a 200 day moving average price of $179.15. Applied Materials, Inc. has a 12-month low of $145.37 and a 12-month high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results 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 return on equity of 39.50% and a net margin of 22.95%. Sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.18%. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s payout ratio is 24.05%.

Applied Materials declared that its Board of Directors has initiated a stock buyback plan 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 plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.