First Midwest Bank Trust Division raised its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 6.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 80,510 shares of the manufacturing equipment provider’s stock after buying an additional 4,817 shares during the quarter. First Midwest Bank Trust Division’s holdings in Applied Materials were worth $4,194,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in AMAT. Commonwealth Bank of Australia lifted its position in shares of Applied Materials by 2.7% in the second quarter. Commonwealth Bank of Australia now owns 87,942 shares of the manufacturing equipment provider’s stock worth $3,632,000 after purchasing an additional 2,279 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Applied Materials in the second quarter worth $2,082,000. Bridgewater Associates LP bought a new stake in shares of Applied Materials in the second quarter worth $8,834,000. Mathes Company Inc. bought a new stake in shares of Applied Materials in the third quarter worth $1,613,000. Finally, MARSHALL WACE ASIA Ltd bought a new stake in shares of Applied Materials in the first quarter worth $113,715,000. 79.32% of the stock is currently owned by hedge funds and other institutional investors.
Applied Materials, Inc. (AMAT) traded up 1.36% during trading on Friday, hitting $56.69. 10,523,573 shares of the company traded hands. The company has a market capitalization of $60.46 billion, a P/E ratio of 20.15 and a beta of 1.86. Applied Materials, Inc. has a 12-month low of $28.02 and a 12-month high of $56.82. The stock has a 50 day moving average price of $51.14 and a 200 day moving average price of $45.54.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $3.69 billion. During the same quarter last year, the firm posted $0.50 EPS. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. On average, equities analysts anticipate that Applied Materials, Inc. will post $3.21 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.71%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 14.18%.
A number of analysts have recently commented on AMAT shares. Vetr lowered shares of Applied Materials from a “strong-buy” rating to a “buy” rating and set a $46.48 price objective on the stock. in a research report on Wednesday, July 5th. Stifel Nicolaus reissued a “buy” rating and issued a $55.00 price objective on shares of Applied Materials in a research report on Thursday, July 6th. Morgan Stanley reissued an “overweight” rating and issued a $52.00 price objective (up previously from $47.00) on shares of Applied Materials in a research report on Monday, July 10th. DA Davidson reissued a “buy” rating and issued a $55.00 price objective on shares of Applied Materials in a research report on Monday, July 10th. Finally, B. Riley reissued a “buy” rating and issued a $56.00 price objective on shares of Applied Materials in a research report on Tuesday, July 11th. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $56.64.
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In related news, Director Alexander Karsner sold 22,762 shares of Applied Materials stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total value of $1,002,210.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas F. Larkins sold 30,000 shares of Applied Materials stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $51.24, for a total value of $1,537,200.00. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
About Applied Materials
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