Patriot Wealth Management Inc. increased its stake 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. The institutional investor 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 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Reilly Financial Advisors LLC increased its stake in Applied Materials by 78.0% in the first quarter. Reilly Financial Advisors LLC now owns 2,692 shares of the manufacturing equipment provider’s stock valued at $105,000 after buying an additional 1,180 shares during the last quarter. Pinnacle Bank bought a new stake in Applied Materials during the first quarter valued at $113,000. State of Alaska Department of Revenue bought a new stake in Applied Materials during the first quarter valued at $114,000. James Investment Research Inc. increased its stake in Applied Materials by 90.6% in the first quarter. James Investment Research Inc. now owns 3,050 shares of the manufacturing equipment provider’s stock valued at $119,000 after buying an additional 1,450 shares during the last quarter. Finally, Clean Yield Group bought a new stake in Applied Materials during the first quarter valued at $124,000. 79.33% of the stock is owned by institutional investors and hedge funds.
Shares of Applied Materials, Inc. (NASDAQ:AMAT) traded up 2.74% during midday trading on Friday, reaching $44.30. The company’s stock had a trading volume of 20,996,205 shares. The company has a 50-day moving average price of $44.44 and a 200-day moving average price of $41.31. The firm has a market cap of $47.45 billion, a price-to-earnings ratio of 15.75 and a beta of 1.82. Applied Materials, Inc. has a 12 month low of $27.56 and a 12 month high of $47.86.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.02. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. Applied Materials had a return on equity of 42.08% and a net margin of 22.08%. The business’s revenue was up 32.7% compared to the same quarter last year. During the same period last year, the company earned $0.50 earnings per share. Equities analysts expect that Applied Materials, Inc. will post $3.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.90%. Applied Materials’s dividend payout ratio is 14.18%.
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AMAT has been the subject of several research analyst reports. Bank of America Corporation reaffirmed a “buy” rating and issued a $54.00 price objective (up previously from $45.00) on shares of Applied Materials in a report on Wednesday, May 17th. UBS AG reiterated a “buy” rating and issued a $51.00 price target (up from $44.00) on shares of Applied Materials in a research report on Wednesday, May 17th. B. Riley reiterated a “buy” rating and issued a $56.00 price target on shares of Applied Materials in a research report on Saturday, May 20th. Credit Suisse Group upgraded shares of Applied Materials to a “buy” rating and set a $54.00 price target on the stock in a research report on Friday, May 19th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $48.00 price target (up from $45.00) on shares of Applied Materials in a research report on Friday, May 19th. Five equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $43.34.
Applied Materials Company Profile
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