Epoch Investment Partners Inc. Cuts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Epoch Investment Partners Inc. trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,229,428 shares of the manufacturing equipment provider’s stock after selling 24,198 shares during the quarter. Applied Materials accounts for about 1.0% of Epoch Investment Partners Inc.’s holdings, making the stock its 23rd largest holding. Epoch Investment Partners Inc.’s holdings in Applied Materials were worth $199,942,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Applied Materials by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 77,039,667 shares of the manufacturing equipment provider’s stock worth $12,528,961,000 after acquiring an additional 487,358 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Applied Materials by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 20,079,451 shares of the manufacturing equipment provider’s stock valued at $3,260,178,000 after acquiring an additional 253,078 shares during the last quarter. Norges Bank bought a new position in Applied Materials during the 4th quarter worth approximately $1,588,422,000. Alliancebernstein L.P. lifted its position in Applied Materials by 7.6% in the fourth quarter. Alliancebernstein L.P. now owns 8,338,520 shares of the manufacturing equipment provider’s stock valued at $1,356,094,000 after purchasing an additional 587,036 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Applied Materials by 1.3% in the fourth quarter. Van ECK Associates Corp now owns 6,655,308 shares of the manufacturing equipment provider’s stock worth $1,082,353,000 after purchasing an additional 84,130 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of AMAT stock opened at $137.46 on Friday. The company’s 50-day moving average is $152.67 and its 200 day moving average is $170.78. The company has a market capitalization of $111.68 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.61. Applied Materials, Inc. has a one year low of $123.74 and a one 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.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share 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%. Sell-side analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors 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 is a boost from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 1.34%. Applied Materials’s dividend payout ratio (DPR) is 24.05%.

Applied Materials declared that its board has initiated a share repurchase program on Monday, March 10th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to buy up to 8.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AMAT shares. Jefferies Financial Group raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 price target for the company in a research report on Friday, March 28th. Stifel Nicolaus cut their target price on Applied Materials from $235.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday. Wells Fargo & Company lowered their price target on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Susquehanna raised their price target on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Citigroup reduced their price objective on shares of Applied Materials from $202.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.29.

Insider Buying and Selling

In related news, CEO Gary E. Dickerson bought 50,000 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was acquired at an average price of $137.30 per share, with a total value of $6,865,000.00. Following the transaction, the chief executive officer now owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. This trade represents a 3.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Adam Sanders sold 450 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total value of $65,173.50. Following the transaction, the chief accounting officer now directly owns 6,077 shares in the company, valued at $880,131.91. The trade was a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

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.