Meeder Advisory Services Inc. Increases Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Meeder Advisory Services Inc. raised its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,996 shares of the manufacturing equipment provider’s stock after acquiring an additional 192 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Applied Materials were worth $2,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Benjamin Edwards Inc. raised its stake in shares of Applied Materials by 60.2% in the third quarter. Benjamin Edwards Inc. now owns 36,539 shares of the manufacturing equipment provider’s stock worth $7,390,000 after buying an additional 13,735 shares during the period. Ascent Group LLC increased its holdings in Applied Materials by 128.4% in the 3rd quarter. Ascent Group LLC now owns 12,684 shares of the manufacturing equipment provider’s stock worth $2,563,000 after acquiring an additional 7,131 shares in the last quarter. Hilltop Holdings Inc. raised its stake in Applied Materials by 108.0% during the 3rd quarter. Hilltop Holdings Inc. now owns 7,680 shares of the manufacturing equipment provider’s stock worth $1,552,000 after acquiring an additional 3,988 shares during the period. Harmony Asset Management LLC lifted its holdings in Applied Materials by 3.6% during the third quarter. Harmony Asset Management LLC now owns 28,461 shares of the manufacturing equipment provider’s stock valued at $5,750,000 after purchasing an additional 985 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Applied Materials by 67.8% in the third quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider’s stock worth $942,187,000 after purchasing an additional 1,884,153 shares during the period. Institutional investors own 80.56% of the company’s stock.

Insider Buying and Selling

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on AMAT shares. Mizuho decreased their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Needham & Company LLC lowered their price objective 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. Susquehanna upped their price objective on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Citigroup lifted their target price on Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $164.00 price target (down previously from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. One investment 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 data from MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and an average target price of $214.67.

Applied Materials Price Performance

AMAT opened at $145.66 on Wednesday. The business has a fifty day moving average of $165.45 and a 200 day moving average of $176.27. The stock has a market cap of $118.34 billion, a P/E ratio of 19.04, a PEG ratio of 1.81 and a beta of 1.62. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 52-week low of $141.16 and a 52-week high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating 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 anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials announced that its board has authorized a stock 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 repurchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Applied Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Thursday, May 22nd. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s payout ratio is currently 24.05%.

Applied Materials Company 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.