Assetmark Inc. Buys 26,482 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Assetmark Inc. raised its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 13.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 220,453 shares of the manufacturing equipment provider’s stock after purchasing an additional 26,482 shares during the quarter. Assetmark Inc.’s holdings in Applied Materials were worth $35,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Smithfield Trust Co lifted its position in Applied Materials by 0.4% during the fourth quarter. Smithfield Trust Co now owns 21,784 shares of the manufacturing equipment provider’s stock valued at $3,543,000 after purchasing an additional 93 shares during the last quarter. Keybank National Association OH lifted its position in Applied Materials by 4.9% during the fourth quarter. Keybank National Association OH now owns 117,456 shares of the manufacturing equipment provider’s stock valued at $19,102,000 after purchasing an additional 5,472 shares during the last quarter. Jag Capital Management LLC lifted its position in Applied Materials by 0.8% during the fourth quarter. Jag Capital Management LLC now owns 25,041 shares of the manufacturing equipment provider’s stock valued at $4,072,000 after purchasing an additional 188 shares during the last quarter. Cornerstone Investment Partners LLC bought a new stake in shares of Applied Materials in the 4th quarter worth approximately $34,963,000. Finally, Ring Mountain Capital LLC bought a new stake in shares of Applied Materials in the 4th quarter worth approximately $387,000. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Stock Performance

Shares of NASDAQ AMAT opened at $155.32 on Thursday. The firm’s 50-day moving average price is $174.50 and its 200-day moving average price is $181.78. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The company has a market cap of $126.19 billion, a PE ratio of 20.30, a PEG ratio of 1.81 and a beta of 1.53. Applied Materials, Inc. has a 52-week low of $149.55 and a 52-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 (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, analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s payout ratio is 20.92%.

Insider Buying and Selling

In other Applied Materials news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 6,479 shares of the company’s stock, valued at $1,119,052.88. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. TD Cowen lowered their price objective on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 15th. The Goldman Sachs Group lowered their price objective on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a report on Friday, January 10th. Evercore ISI lowered their price objective on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Sanford C. Bernstein lowered their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, November 29th. Finally, Susquehanna boosted their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and a consensus target price of $215.38.

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.