Financial Counselors Inc. lessened its position in Applied Materials, Inc. (NASDAQ:AMAT) by 14.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 134,226 shares of the manufacturing equipment provider’s stock after selling 22,971 shares during the period. Financial Counselors Inc.’s holdings in Applied Materials were worth $5,545,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in AMAT. State of Alaska Department of Revenue acquired a new stake in shares of Applied Materials in the 1st quarter worth $114,000. Clean Yield Group acquired a new stake in shares of Applied Materials in the 1st quarter worth $124,000. Bessemer Group Inc. lifted its stake in shares of Applied Materials by 145.4% in the 2nd quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock worth $126,000 after acquiring an additional 1,817 shares during the period. Hanson McClain Inc. lifted its stake in shares of Applied Materials by 4.3% in the 1st quarter. Hanson McClain Inc. now owns 3,360 shares of the manufacturing equipment provider’s stock worth $131,000 after acquiring an additional 139 shares during the period. Finally, First Interstate Bank lifted its stake in shares of Applied Materials by 7.0% in the 1st quarter. First Interstate Bank now owns 3,528 shares of the manufacturing equipment provider’s stock worth $137,000 after acquiring an additional 232 shares during the period. Institutional investors own 79.67% of the company’s stock.
A number of brokerages have recently issued reports on AMAT. Stifel Nicolaus increased their price target on shares of Applied Materials from $50.00 to $55.00 and gave the company a “buy” rating in a report on Sunday, May 21st. Credit Suisse Group restated a “buy” rating on shares of Applied Materials in a report on Tuesday, August 29th. Vetr upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating and set a $46.48 target price for the company in a report on Thursday, June 29th. Instinet restated a “buy” rating and set a $47.00 target price (up from $40.00) on shares of Applied Materials in a report on Sunday, May 21st. Finally, Needham & Company LLC lifted their price target on shares of Applied Materials from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Sunday, May 21st. Four investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Applied Materials currently has an average rating of “Buy” and a consensus target price of $51.55.
Shares of Applied Materials, Inc. (AMAT) traded up 0.19% during mid-day trading on Friday, hitting $47.14. 13,880,440 shares of the company were exchanged. Applied Materials, Inc. has a 12-month low of $27.56 and a 12-month high of $47.86. The stock has a market cap of $50.27 billion, a PE ratio of 16.76 and a beta of 1.81. The stock’s 50-day moving average price is $44.31 and its 200 day moving average price is $42.57.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the firm earned $0.50 EPS. Applied Materials’s revenue was up 32.7% on a year-over-year basis. On average, equities analysts anticipate that Applied Materials, Inc. will post $3.20 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.85%. Applied Materials’s dividend payout ratio (DPR) is currently 14.18%.
In other news, Director Alexander Karsner sold 22,762 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total transaction of $1,002,210.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by insiders.
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Applied Materials Company Profile
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