Patten Group Inc. lowered its position in Applied Materials, Inc. (NASDAQ:AMAT) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of AMAT. Reilly Financial Advisors LLC raised its position 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 worth $105,000 after buying an additional 1,180 shares in the last quarter. Pinnacle Bank bought a new stake in shares of Applied Materials during the first quarter valued at about $113,000. State of Alaska Department of Revenue bought a new stake in shares of Applied Materials during the first quarter valued at about $114,000. James Investment Research Inc. raised 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 acquired a new position in Applied Materials during the first quarter valued at approximately $124,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.
Shares of Applied Materials, Inc. (NASDAQ AMAT) opened at 43.81 on Thursday. The company’s 50-day moving average price is $44.31 and its 200-day moving average price is $40.89. The company has a market cap of $47.08 billion, a P/E ratio of 18.12 and a beta of 1.82. Applied Materials, Inc. has a 12 month low of $26.41 and a 12 month high of $47.86. Applied Materials also was the target of some unusual options trading on Wednesday. Traders bought 2,307 call options on the stock. This is an increase of 118% compared to the average daily volume of 1,060 call options.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.76 by $0.03. The business 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%. The company’s quarterly revenue was up 44.7% compared to the same quarter last year. During the same period last year, the firm earned $0.34 EPS. Equities analysts forecast that Applied Materials, Inc. will post $3.11 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.91%. The ex-dividend date is Tuesday, August 22nd. Applied Materials’s payout ratio is currently 16.46%.
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Several brokerages recently commented on AMAT. Credit Suisse Group raised shares of Applied Materials to a “buy” rating and set a $54.00 target price on the stock in a research note on Friday, May 19th. Deutsche Bank AG restated a “buy” rating and set a $48.00 target price (up previously from $45.00) on shares of Applied Materials in a report on Friday, May 19th. Vetr cut shares of Applied Materials from a “strong-buy” rating to a “buy” rating and set a $42.81 price target on the stock. in a research note on Wednesday, April 19th. Bank of America Corporation reissued a “buy” rating and issued a $54.00 target price (up previously from $45.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Finally, UBS AG reaffirmed a “buy” rating and set a $51.00 price target (up previously from $44.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Four research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Applied Materials presently has a consensus rating of “Buy” and a consensus target price of $46.62.
About Applied Materials
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