Applied Materials, Inc. (NASDAQ:AMAT) Position Increased by Patriot Wealth Management Inc.

Patriot Wealth Management Inc. raised its position in Applied Materials, Inc. (NASDAQ:AMAT) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,514 shares of the manufacturing equipment provider’s stock after buying an additional 2,619 shares during the period. Patriot Wealth Management Inc.’s holdings in Applied Materials were worth $5,929,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. MCF Advisors LLC increased its stake in shares of Applied Materials by 0.3% in the first quarter. MCF Advisors LLC now owns 3,663 shares of the manufacturing equipment provider’s stock worth $142,000 after buying an additional 10 shares in the last quarter. Guardian Life Insurance Co. of America increased its stake in shares of Applied Materials by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 4,170 shares of the manufacturing equipment provider’s stock worth $162,000 after buying an additional 29 shares in the last quarter. Regentatlantic Capital LLC increased its stake in shares of Applied Materials by 0.3% in the first quarter. Regentatlantic Capital LLC now owns 18,738 shares of the manufacturing equipment provider’s stock worth $729,000 after buying an additional 58 shares in the last quarter. RMB Capital Management LLC increased its stake in shares of Applied Materials by 1.0% in the first quarter. RMB Capital Management LLC now owns 6,280 shares of the manufacturing equipment provider’s stock worth $244,000 after buying an additional 60 shares in the last quarter. Finally, Hanson McClain Inc. increased its stake in shares of Applied Materials by 4.3% in the first quarter. Hanson McClain Inc. now owns 3,360 shares of the manufacturing equipment provider’s stock worth $131,000 after buying an additional 139 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Applied Materials, Inc. (NASDAQ:AMAT) traded up 2.50% on Friday, reaching $43.08. The company’s stock had a trading volume of 10,761,599 shares. Applied Materials, Inc. has a 12-month low of $27.00 and a 12-month high of $47.86. The firm has a 50-day moving average of $44.26 and a 200 day moving average of $40.97. The company has a market capitalization of $46.30 billion, a price-to-earnings ratio of 17.82 and a beta of 1.82. Applied Materials also was the target of unusually large options trading on Wednesday. Investors purchased 2,307 call options on the company. This is an increase of 118% compared to the typical daily volume of 1,060 call options.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.03. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period in the previous year, the company earned $0.34 earnings per share. The company’s revenue for the quarter was up 44.7% compared to the same quarter last year. On average, equities research analysts anticipate that Applied Materials, Inc. will post $3.11 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Tuesday, August 22nd. Applied Materials’s payout ratio is 16.46%.

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AMAT has been the topic of several research reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a $48.00 target price (up from $45.00) on shares of Applied Materials in a research note on Friday, May 19th. Bank of America Corporation reaffirmed a “buy” rating and issued a $54.00 target price (up from $45.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Royal Bank Of Canada reiterated a “hold” rating and issued a $35.00 price target on shares of Applied Materials in a report on Tuesday, April 25th. Stifel Nicolaus lifted 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. Finally, Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $40.00 price target (up previously from $35.00) on shares of Applied Materials in a report on Wednesday, May 17th. Four investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Applied Materials presently has an average rating of “Buy” and a consensus target price of $46.60.

About Applied Materials

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

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