Applied Materials, Inc. (AMAT) is Pillar Pacific Capital Management LLC’s 4th Largest Position

Pillar Pacific Capital Management LLC trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT) by 5.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 230,493 shares of the manufacturing equipment provider’s stock after selling 12,580 shares during the period. Applied Materials makes up about 1.5% of Pillar Pacific Capital Management LLC’s portfolio, making the stock its 4th largest holding. Pillar Pacific Capital Management LLC’s holdings in Applied Materials were worth $12,007,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMAT. PNC Financial Services Group Inc. increased its holdings in shares of Applied Materials by 7.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,444,633 shares of the manufacturing equipment provider’s stock valued at $133,997,000 after buying an additional 230,396 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of Applied Materials in the first quarter valued at $687,000. Legal & General Group Plc increased its holdings in shares of Applied Materials by 3.3% in the first quarter. Legal & General Group Plc now owns 5,256,889 shares of the manufacturing equipment provider’s stock valued at $204,488,000 after buying an additional 169,484 shares in the last quarter. Capital Planning Advisors LLC bought a new position in shares of Applied Materials in the first quarter valued at $202,000. Finally, Teacher Retirement System of Texas increased its holdings in shares of Applied Materials by 0.6% in the first quarter. Teacher Retirement System of Texas now owns 688,273 shares of the manufacturing equipment provider’s stock valued at $26,774,000 after buying an additional 3,818 shares in the last quarter. Hedge funds and other institutional investors own 79.51% of the company’s stock.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter last year, the firm posted $0.50 EPS. The company’s quarterly revenue was up 32.7% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Wednesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 14.18%.

AMAT has been the topic of several research reports. Credit Suisse Group reaffirmed a “buy” rating on shares of Applied Materials in a report on Tuesday, August 29th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Applied Materials in a report on Friday, October 27th. Vetr raised Applied Materials from a “hold” rating to a “buy” rating and set a $48.70 price target on the stock in a report on Monday, July 31st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 price target on shares of Applied Materials in a report on Thursday, July 6th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $58.00 price target on shares of Applied Materials in a report on Thursday, October 12th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $56.64.

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In other news, VP Thomas F. Larkins sold 30,000 shares of Applied Materials stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $51.24, for a total value of $1,537,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander Karsner sold 22,762 shares of Applied Materials stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total transaction of $1,002,210.86. 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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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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