Pictet Asset Management Ltd. Has $50.09 Million Holdings in Applied Materials, Inc. (AMAT)

Pictet Asset Management Ltd. raised its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 17.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 961,644 shares of the manufacturing equipment provider’s stock after purchasing an additional 141,679 shares during the period. Pictet Asset Management Ltd. owned 0.09% of Applied Materials worth $50,092,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Summit Financial Wealth Advisors LLC grew its holdings in Applied Materials by 0.3% during the second quarter. Summit Financial Wealth Advisors LLC now owns 6,269 shares of the manufacturing equipment provider’s stock valued at $259,000 after purchasing an additional 19 shares during the last quarter. Guardian Life Insurance Co. of America boosted its position 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 valued at $162,000 after acquiring an additional 29 shares during the period. Adirondack Trust Co. boosted its position in shares of Applied Materials by 1.1% in the second quarter. Adirondack Trust Co. now owns 3,650 shares of the manufacturing equipment provider’s stock valued at $151,000 after acquiring an additional 40 shares during the period. Affinity Wealth Management boosted its position in shares of Applied Materials by 0.8% in the second quarter. Affinity Wealth Management now owns 6,387 shares of the manufacturing equipment provider’s stock valued at $264,000 after acquiring an additional 48 shares during the period. Finally, RMB Capital Management LLC boosted its position 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 valued at $244,000 after acquiring an additional 60 shares during the period. Institutional investors own 79.51% of the company’s stock.

In other Applied Materials news, VP Thomas F. Larkins sold 30,000 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $51.24, for a total value of $1,537,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Alexander Karsner sold 22,762 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share 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 business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the previous year, the firm earned $0.50 EPS. The firm’s revenue was up 32.7% compared to the same quarter last year.

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

Several equities research analysts have recently weighed in on AMAT shares. Craig Hallum increased their price objective on Applied Materials to $60.00 and gave the company a “buy” rating in a research report on Friday, August 18th. Credit Suisse Group reissued a “buy” rating and issued a $62.00 price objective on shares of Applied Materials in a research report on Tuesday, September 26th. Stifel Nicolaus reissued a “buy” rating on shares of Applied Materials in a research report on Sunday, October 1st. Royal Bank Of Canada reissued a “sector perform” rating and issued a $48.00 price objective (up from $46.00) on shares of Applied Materials in a research report on Sunday, August 20th. Finally, 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. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Applied Materials presently has an average rating of “Buy” and an average target price of $56.64.

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About Applied Materials

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

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