AGF Investments Inc. Has $168.46 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

AGF Investments Inc. increased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 2.9% during the third quarter, Holdings Channel.com reports. The fund owned 1,308,653 shares of the manufacturing equipment provider’s stock after buying an additional 37,353 shares during the period. Applied Materials makes up about 1.3% of AGF Investments Inc.’s portfolio, making the stock its 15th biggest position. AGF Investments Inc.’s holdings in Applied Materials were worth $168,463,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AMAT. Buckingham Strategic Wealth LLC lifted its stake in Applied Materials by 7.4% in the third quarter. Buckingham Strategic Wealth LLC now owns 5,687 shares of the manufacturing equipment provider’s stock valued at $732,000 after buying an additional 393 shares during the period. Panagora Asset Management Inc. lifted its stake in Applied Materials by 4.9% in the third quarter. Panagora Asset Management Inc. now owns 840,963 shares of the manufacturing equipment provider’s stock valued at $108,257,000 after buying an additional 39,158 shares during the period. ARGI Investment Services LLC lifted its stake in Applied Materials by 19.4% in the third quarter. ARGI Investment Services LLC now owns 5,954 shares of the manufacturing equipment provider’s stock valued at $767,000 after buying an additional 966 shares during the period. IndexIQ Advisors LLC lifted its stake in Applied Materials by 4.8% in the third quarter. IndexIQ Advisors LLC now owns 15,782 shares of the manufacturing equipment provider’s stock valued at $2,032,000 after buying an additional 720 shares during the period. Finally, D Orazio & Associates Inc. acquired a new position in Applied Materials in the third quarter valued at approximately $30,000. 77.06% of the stock is currently owned by institutional investors.

In related news, CEO Gary E. Dickerson sold 300,000 shares of the stock in a transaction dated Wednesday, December 1st. The stock was sold at an average price of $152.79, for a total transaction of $45,837,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.37% of the company’s stock.

Several equities analysts have issued reports on the company. Needham & Company LLC boosted their price target on Applied Materials from $153.00 to $166.00 and gave the company a “buy” rating in a research note on Friday, November 19th. DA Davidson upped their target price on Applied Materials from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, November 19th. Piper Sandler initiated coverage on Applied Materials in a research report on Thursday, October 14th. They set a “neutral” rating and a $130.00 target price on the stock. Jefferies Financial Group initiated coverage on Applied Materials in a research report on Wednesday, January 5th. They set a “buy” rating and a $197.00 target price on the stock. Finally, Cowen upped their target price on Applied Materials from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, November 19th. Seven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Applied Materials currently has an average rating of “Buy” and a consensus target price of $166.00.

Shares of AMAT stock traded up $5.69 on Friday, hitting $162.87. 463,266 shares of the stock were exchanged, compared to its average volume of 5,985,298. The company has a current ratio of 2.54, a quick ratio of 1.86 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $144.71 billion, a PE ratio of 24.52, a P/E/G ratio of 1.67 and a beta of 1.38. Applied Materials, Inc. has a one year low of $96.07 and a one year high of $166.53. The firm’s 50 day moving average is $152.95 and its two-hundred day moving average is $141.41.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 18th. The manufacturing equipment provider reported $1.94 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.01). The firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.34 billion. Applied Materials had a return on equity of 52.64% and a net margin of 25.53%. The firm’s revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS. On average, sell-side analysts expect that Applied Materials, Inc. will post 8.13 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 16th. Investors of record on Wednesday, February 23rd will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, February 22nd. This represents a $0.96 dividend on an annualized basis and a yield of 0.59%. Applied Materials’s dividend payout ratio (DPR) is 14.98%.

Applied Materials Company Profile

Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display & Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation.

Featured Story: Is the QQQ ETF safe?

Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMAT).

Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.