Court Place Advisors LLC held its stake in Applied Materials Inc. (NASDAQ:AMAT) during the second quarter, Holdings Channel reports. The firm owned 13,490 shares of the manufacturing equipment provider’s stock at the end of the second quarter. Court Place Advisors LLC’s holdings in Applied Materials were worth $323,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Old Mutual Global Investors UK Ltd. bought a new position in shares of Applied Materials during the second quarter worth approximately $74,805,000. TIAA CREF Investment Management LLC raised its position in shares of Applied Materials by 35.8% in the first quarter. TIAA CREF Investment Management LLC now owns 10,948,114 shares of the manufacturing equipment provider’s stock worth $231,881,000 after buying an additional 2,885,695 shares during the last quarter. Teachers Advisors Inc. raised its position in shares of Applied Materials by 63.8% in the first quarter. Teachers Advisors Inc. now owns 5,210,641 shares of the manufacturing equipment provider’s stock worth $110,361,000 after buying an additional 2,030,178 shares during the last quarter. Glenmede Trust Co. NA raised its position in shares of Applied Materials by 164.8% in the first quarter. Glenmede Trust Co. NA now owns 2,695,652 shares of the manufacturing equipment provider’s stock worth $57,093,000 after buying an additional 1,677,611 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Applied Materials during the second quarter worth approximately $25,326,000. 82.64% of the stock is currently owned by institutional investors and hedge funds.
Applied Materials Inc. (NASDAQ:AMAT) traded up 0.30% during midday trading on Tuesday, hitting $30.39. 13,183,700 shares of the stock traded hands. The firm’s 50-day moving average is $28.72 and its 200-day moving average is $24.06. Applied Materials Inc. has a 52-week low of $14.29 and a 52-week high of $30.78. The company has a market cap of $32.85 billion, a price-to-earnings ratio of 23.97 and a beta of 1.79.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 earnings per share. Analysts predict that Applied Materials Inc. will post $1.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Tuesday, November 22nd. Applied Materials’s dividend payout ratio is presently 31.25%.
A number of equities analysts have recently commented on the stock. B. Riley reissued a “buy” rating and issued a $27.00 price target on shares of Applied Materials in a report on Tuesday, July 5th. Stifel Nicolaus increased their price target on shares of Applied Materials from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, May 27th. Summit Redstone reissued a “buy” rating on shares of Applied Materials in a report on Wednesday, June 29th. Finally, Vetr raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Wednesday, May 25th. Six analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $30.39.
In related news, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $30.00, for a total value of $150,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Ali Salehpour sold 35,505 shares of the business’s stock in a transaction on Friday, June 24th. The stock was sold at an average price of $24.06, for a total transaction of $854,250.30. Following the completion of the sale, the vice president now owns 495,691 shares in the company, valued at approximately $11,926,325.46. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.
Applied Materials Company Profile
Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.
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