Applied Materials, Inc. (NASDAQ:AMAT) Position Decreased by Patten Group Inc.

Patten Group Inc. lowered its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.0% during the first quarter, Holdings Channel reports. The firm owned 19,797 shares of the manufacturing equipment provider’s stock after selling 398 shares during the period. Patten Group Inc.’s holdings in Applied Materials were worth $771,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new stake in Applied Materials during the fourth quarter valued at approximately $3,147,000. Ibex Wealth Advisors acquired a new stake in Applied Materials during the fourth quarter valued at approximately $2,382,000. Wealthfront Inc. boosted its stake in Applied Materials by 8.9% in the fourth quarter. Wealthfront Inc. now owns 29,163 shares of the manufacturing equipment provider’s stock valued at $941,000 after buying an additional 2,387 shares during the period. RMB Capital Management LLC acquired a new stake in Applied Materials during the fourth quarter valued at approximately $201,000. Finally, Teachers Advisors LLC boosted its stake in Applied Materials by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 3,956,864 shares of the manufacturing equipment provider’s stock valued at $127,688,000 after buying an additional 109,324 shares during the period. 79.78% of the stock is currently owned by institutional investors.

Shares of Applied Materials, Inc. (NASDAQ:AMAT) opened at 46.81 on Friday. Applied Materials, Inc. has a 52-week low of $25.68 and a 52-week high of $47.86. The stock has a market cap of $50.30 billion, a PE ratio of 19.36 and a beta of 1.81. The company’s 50 day moving average price is $44.47 and its 200 day moving average price is $39.76.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. Applied Materials’s quarterly revenue was up 44.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. On average, analysts anticipate that Applied Materials, Inc. will post $3.11 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be issued 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 0.85%. Applied Materials’s payout ratio is 16.46%.

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AMAT has been the topic of several recent analyst reports. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $42.81 price objective on the stock in a research report on Tuesday, April 11th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $35.00 price objective on shares of Applied Materials in a research report on Tuesday, April 25th. B. Riley reaffirmed a “buy” rating and set a $44.00 price objective on shares of Applied Materials in a research report on Monday, May 15th. Needham & Company LLC increased their price objective on Applied Materials from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Finally, Stifel Nicolaus increased their price objective on Applied Materials from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Applied Materials has a consensus rating of “Buy” and a consensus price target of $46.56.

Applied Materials Company Profile

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

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