Cornercap Investment Counsel Inc. decreased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 121,845 shares of the manufacturing equipment provider’s stock after selling 6,645 shares during the period. Applied Materials comprises about 0.9% of Cornercap Investment Counsel Inc.’s portfolio, making the stock its 19th largest holding. Cornercap Investment Counsel Inc.’s holdings in Applied Materials were worth $6,229,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the stock. Financial Gravity Companies Inc. purchased a new position in Applied Materials during the fourth quarter valued at $110,000. Risk Paradigm Group LLC purchased a new position in Applied Materials during the fourth quarter valued at $110,000. Cerebellum GP LLC purchased a new position in Applied Materials during the fourth quarter valued at $122,000. Zions Bancorporation lifted its position in Applied Materials by 349.1% during the third quarter. Zions Bancorporation now owns 2,636 shares of the manufacturing equipment provider’s stock valued at $137,000 after buying an additional 2,049 shares during the period. Finally, Mckinley Capital Management LLC Delaware purchased a new position in Applied Materials during the fourth quarter valued at $169,000. 78.33% of the stock is owned by institutional investors.
In related news, VP Omkaram Nalamasu sold 53,466 shares of Applied Materials stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $53.00, for a total value of $2,833,698.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ali Salehpour sold 125,125 shares of Applied Materials stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $51.47, for a total value of $6,440,183.75. The disclosure for this sale can be found here. Insiders sold a total of 307,716 shares of company stock valued at $15,928,746 over the last quarter. 0.35% of the stock is owned by corporate insiders.
Shares of Applied Materials, Inc. (NASDAQ AMAT) opened at $61.61 on Friday. Applied Materials, Inc. has a twelve month low of $37.41 and a twelve month high of $61.76. The company has a market capitalization of $64,732.83, a PE ratio of 16.93, a P/E/G ratio of 1.17 and a beta of 1.58. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.96 and a quick ratio of 2.25.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 EPS for the quarter, topping the consensus estimate of $0.98 by $0.08. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period last year, the company earned $0.67 EPS. analysts predict that Applied Materials, Inc. will post 4.39 earnings per share for the current fiscal year.
Applied Materials announced that its board has approved a stock repurchase program on Wednesday, February 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.30%. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Wednesday, May 23rd. Applied Materials’s dividend payout ratio (DPR) is presently 15.09%.
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Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.
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