APG Asset Management N.V. Increases Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

APG Asset Management N.V. grew its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 611.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 824,407 shares of the manufacturing equipment provider’s stock after buying an additional 708,541 shares during the period. APG Asset Management N.V.’s holdings in Applied Materials were worth $129,477,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Advisory Services Network LLC grew its holdings in Applied Materials by 27.7% during the fourth quarter. Advisory Services Network LLC now owns 46,156 shares of the manufacturing equipment provider’s stock worth $7,506,000 after acquiring an additional 10,005 shares during the period. Applied Finance Capital Management LLC boosted its position in shares of Applied Materials by 3,316.1% during the 4th quarter. Applied Finance Capital Management LLC now owns 297,238 shares of the manufacturing equipment provider’s stock worth $48,340,000 after purchasing an additional 288,537 shares in the last quarter. Bernard Wealth Management Corp. purchased a new position in shares of Applied Materials in the 4th quarter valued at about $124,000. Renaissance Technologies LLC purchased a new position in shares of Applied Materials in the 4th quarter valued at about $79,306,000. Finally, Shelton Capital Management lifted its stake in shares of Applied Materials by 23.3% in the fourth quarter. Shelton Capital Management now owns 179,076 shares of the manufacturing equipment provider’s stock valued at $29,123,000 after purchasing an additional 33,881 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Price Performance

Applied Materials stock opened at $132.85 on Tuesday. Applied Materials, Inc. has a 1 year low of $123.74 and a 1 year high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. The firm has a 50 day moving average price of $161.36 and a 200 day moving average price of $174.75. The company has a market cap of $107.93 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 1.81 and a beta of 1.61.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Sell-side analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials announced that its Board of Directors has authorized a stock repurchase plan on Monday, March 10th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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 issued 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 1.39%. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s payout ratio is presently 24.05%.

Insider Buying and Selling

In related news, CAO Adam Sanders sold 450 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total transaction of $65,173.50. Following the sale, the chief accounting officer now directly owns 6,077 shares in the company, valued at approximately $880,131.91. This trade represents a 6.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gary E. Dickerson purchased 50,000 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was bought at an average price of $137.30 per share, with a total value of $6,865,000.00. Following the acquisition, the chief executive officer now owns 1,716,058 shares in the company, 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. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AMAT shares. KeyCorp upgraded shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 target price on the stock in a research report on Friday, January 17th. Mizuho dropped their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Needham & Company LLC decreased their target price 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 lowered their target price on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Finally, Edward Jones raised Applied Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Applied Materials presently has a consensus rating of “Moderate Buy” and an average target price of $214.67.

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.