Okabena Investment Services Inc. Purchases 5,107 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Okabena Investment Services Inc. boosted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 204.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,601 shares of the manufacturing equipment provider’s stock after purchasing an additional 5,107 shares during the period. Okabena Investment Services Inc.’s holdings in Applied Materials were worth $1,236,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new position in shares of Applied Materials during the fourth quarter valued at approximately $28,000. Crews Bank & Trust bought a new stake in shares of Applied Materials during the fourth quarter worth $28,000. YANKCOM Partnership purchased a new stake in shares of Applied Materials during the fourth quarter valued at $32,000. Dunhill Financial LLC grew its holdings in shares of Applied Materials by 61.4% in the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after purchasing an additional 81 shares during the last quarter. Finally, City Holding Co. purchased a new position in Applied Materials in the 4th quarter worth about $39,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Trading Down 1.8 %

Applied Materials stock opened at $145.06 on Friday. Applied Materials, Inc. has a one year low of $144.12 and a one year high of $255.89. The stock has a market cap of $117.85 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. 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 stock has a 50-day moving average of $167.33 and a two-hundred day moving average of $176.91.

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

Applied Materials declared that its board has authorized a share repurchase plan on Monday, March 10th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the manufacturing equipment provider to buy up to 8.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board 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. Investors of record on Thursday, May 22nd will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.27%. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. Applied Materials’s dividend payout ratio is presently 24.05%.

Insider Buying and Selling

In related news, CAO Adam Sanders sold 271 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the sale, the chief accounting officer now owns 6,479 shares in the company, valued at $1,119,052.88. This represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Susquehanna upped their target price on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group dropped their price objective on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock 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 for the company in a research report on Friday, February 14th. Morgan Stanley reissued an “underweight” rating and set a $164.00 price target (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Finally, Sanford C. Bernstein cut their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and an average price target 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.