8,610 Shares in Applied Materials, Inc. (NASDAQ:AMAT) Bought by Provident Co of the Employees of the Hebrew University LTD

Provident Co of the Employees of the Hebrew University LTD purchased a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,610 shares of the manufacturing equipment provider’s stock, valued at approximately $1,399,000. Applied Materials makes up approximately 1.6% of Provident Co of the Employees of the Hebrew University LTD’s portfolio, making the stock its 22nd biggest position.

Several other large investors also recently bought and sold shares of AMAT. Crews Bank & Trust acquired a new stake in shares of Applied Materials during the fourth quarter worth $28,000. FPC Investment Advisory Inc. purchased a new stake in Applied Materials during the 4th quarter worth $28,000. YANKCOM Partnership acquired a new stake in Applied Materials in the fourth quarter valued at approximately $32,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Applied Materials during the third quarter worth about $37,000. Finally, City Holding Co. bought a new position in Applied Materials during the 4th quarter valued at $39,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMAT. The Goldman Sachs Group cut their target price on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Mizuho lowered 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. Susquehanna raised their target price on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Citigroup upped their price target on shares of Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $164.00 price objective (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $215.38.

Applied Materials Stock Up 3.8 %

Shares of NASDAQ:AMAT opened at $155.66 on Monday. The firm has a market capitalization 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. Applied Materials, Inc. has a 52-week low of $145.37 and a 52-week high of $255.89. The firm has a fifty day moving average of $172.54 and a 200 day moving average of $179.15. 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 posted its earnings results 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%. As a group, research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Increases Dividend

The firm 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. This represents a $1.84 annualized dividend and a dividend yield of 1.18%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 24.05%.

Applied Materials declared that its Board of Directors has approved a stock buyback plan 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 purchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $172.72, for a total transaction of $46,807.12. Following the completion of the sale, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. The trade was a 4.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

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.