Moment Partners LLC Invests $202,000 in Applied Materials, Inc. (NASDAQ:AMAT)

Moment Partners LLC bought a new stake in Applied Materials, Inc. (NASDAQ:AMAT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,243 shares of the manufacturing equipment provider’s stock, valued at approximately $202,000.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Morgan Stanley reissued an “underweight” rating and set a $164.00 price objective (down from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Wells Fargo & Company reduced their price target on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Needham & Company LLC dropped their price objective on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a report on Friday, February 14th. Sanford C. Bernstein reduced their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. Finally, Susquehanna increased their price target on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.38.

Insider Activity

In related news, CAO Adam Sanders sold 271 shares of the firm’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 sale, the chief accounting officer now directly owns 6,479 shares in the company, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.24% of the stock is currently owned by company insiders.

Applied Materials Stock Performance

Shares of NASDAQ:AMAT opened at $147.68 on Friday. The company has a market capitalization of $119.98 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 1.81 and a beta of 1.62. The firm’s 50 day simple moving average is $168.27 and its 200 day simple moving average is $177.14. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. Applied Materials, Inc. has a fifty-two week low of $145.37 and a fifty-two week 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 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, sell-side analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Increases Dividend

The firm also recently declared 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 1.25%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is currently 24.05%.

Applied Materials announced that its board has initiated a stock buyback plan on Monday, March 10th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the manufacturing equipment provider to reacquire up to 8.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors 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.