HGK Asset Management Inc. decreased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 24.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 306,732 shares of the manufacturing equipment provider’s stock after selling 97,650 shares during the quarter. HGK Asset Management Inc.’s holdings in Applied Materials were worth $12,671,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Oxford Asset Management bought a new position in shares of Applied Materials in the first quarter worth about $4,956,000. Karp Capital Management Corp bought a new position in shares of Applied Materials in the first quarter worth about $17,549,000. Outfitter Advisors LTD. raised its stake in shares of Applied Materials by 1.5% in the first quarter. Outfitter Advisors LTD. now owns 40,400 shares of the manufacturing equipment provider’s stock worth $1,572,000 after buying an additional 600 shares during the period. MARSHALL WACE ASIA Ltd bought a new position in shares of Applied Materials in the first quarter worth about $113,715,000. Finally, BlackRock Inc. raised its stake in shares of Applied Materials by 2,063.7% in the first quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock worth $2,606,676,000 after buying an additional 63,912,660 shares during the period. 79.67% of the stock is currently owned by institutional investors.
Several research firms have recently commented on AMAT. UBS AG reaffirmed a “buy” rating and issued a $51.00 price objective (up previously from $44.00) on shares of Applied Materials in a research note on Wednesday, May 17th. B. Riley reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Applied Materials in a research note on Monday, May 15th. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 price objective on the stock in a research note on Thursday, August 10th. Zacks Investment Research downgraded Applied Materials from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Finally, Credit Suisse Group raised their price objective on Applied Materials from $5.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, August 18th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $51.44.
In other news, Director Alexander Karsner sold 22,762 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total value of $1,002,210.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is owned by corporate insiders.
Shares of Applied Materials, Inc. (AMAT) traded up 2.64% during trading on Monday, hitting $45.52. The stock had a trading volume of 3,119,046 shares. Applied Materials, Inc. has a 52-week low of $27.56 and a 52-week high of $47.86. The firm’s 50-day moving average is $44.29 and its 200 day moving average is $42.30. The firm has a market cap of $48.55 billion, a price-to-earnings ratio of 16.18 and a beta of 1.81.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The business’s revenue was up 32.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 earnings per share. On average, analysts expect that Applied Materials, Inc. will post $3.20 EPS for the current year.
The business also recently declared 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. The ex-dividend date is Wednesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.90%. Applied Materials’s dividend payout ratio (DPR) is presently 14.18%.
Applied Materials Profile
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