Grimes & Company Inc. Boosts Position in Applied Materials, Inc. (AMAT)

Grimes & Company Inc. boosted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,583 shares of the manufacturing equipment provider’s stock after buying an additional 158 shares during the period. Grimes & Company Inc.’s holdings in Applied Materials were worth $231,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Reilly Financial Advisors LLC boosted its stake in shares of 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 shares of Applied Materials during the first quarter valued at $113,000. State of Alaska Department of Revenue bought a new stake in shares of Applied Materials during the first quarter valued at $114,000. James Investment Research Inc. boosted its stake in shares of 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 shares of Applied Materials during the first quarter valued at $124,000. Hedge funds and other institutional investors own 79.78% of the company’s stock.

Applied Materials, Inc. (NASDAQ AMAT) traded down 0.646% on Thursday, hitting $46.875. The company’s stock had a trading volume of 1,767,306 shares. The firm has a 50 day moving average of $44.43 and a 200 day moving average of $39.70. Applied Materials, Inc. has a 12 month low of $25.68 and a 12 month high of $47.86. The firm has a market cap of $50.37 billion, a price-to-earnings ratio of 19.386 and a beta of 1.81.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Applied Materials had a net margin of 20.41% and a return on equity of 38.28%. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The company’s revenue was up 44.7% on a year-over-year basis. Equities research analysts forecast that Applied Materials, Inc. will post $3.11 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Tuesday, August 22nd. Applied Materials’s dividend payout ratio is presently 16.46%.

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Several equities research analysts have recently weighed in on the company. UBS AG reissued a “buy” rating and issued a $51.00 price target (up previously from $44.00) on shares of Applied Materials in a research note on Wednesday, May 17th. B. Riley reissued a “buy” rating and issued a $44.00 price target on shares of Applied Materials in a research note on Monday, May 15th. Royal Bank Of Canada reissued a “hold” rating and issued a $35.00 price target on shares of Applied Materials in a research note on Tuesday, April 25th. Vetr raised Applied Materials from a “hold” rating to a “buy” rating and set a $47.32 price target for the company in a research note on Friday, July 14th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $54.00 price target (up previously from $45.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Four research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $46.56.

About Applied Materials

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

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