Huntington National Bank increased its stake in Applied Materials Inc. (NASDAQ:AMAT) by 303.8% during the second quarter, Holdings Channel reports. The institutional investor owned 429,025 shares of the manufacturing equipment provider’s stock after buying an additional 322,784 shares during the period. Huntington National Bank’s holdings in Applied Materials were worth $10,284,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in AMAT. Clean Yield Group boosted its stake in Applied Materials by 16.5% in the second quarter. Clean Yield Group now owns 4,950 shares of the manufacturing equipment provider’s stock valued at $119,000 after buying an additional 700 shares in the last quarter. First PREMIER Bank acquired a new position in shares of Applied Materials during the second quarter worth $120,000. NEXT Financial Group Inc boosted its position in shares of Applied Materials by 406.1% in the second quarter. NEXT Financial Group Inc now owns 6,605 shares of the manufacturing equipment provider’s stock worth $158,000 after buying an additional 5,300 shares during the period. IFP Advisors Inc boosted its position in shares of Applied Materials by 52.9% in the first quarter. IFP Advisors Inc now owns 8,741 shares of the manufacturing equipment provider’s stock worth $185,000 after buying an additional 3,026 shares during the period. Finally, Sigma Planning Corp acquired a new position in shares of Applied Materials during the second quarter worth $204,000. 82.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of Applied Materials Inc. (NASDAQ:AMAT) traded up 0.1592% during midday trading on Wednesday, reaching $28.6856. 9,448,760 shares of the company’s stock were exchanged. Applied Materials Inc. has a 1-year low of $15.07 and a 1-year high of $31.07. The company has a market capitalization of $31.01 billion, a PE ratio of 22.6227 and a beta of 1.84. The firm has a 50-day moving average of $29.81 and a 200-day moving average of $25.09.
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, topping the consensus estimate of $0.48 by $0.02. Applied Materials had a return on equity of 22.37% and a net margin of 14.62%. The firm earned $2.82 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the company posted $0.33 earnings per share. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities analysts expect that Applied Materials Inc. will post $1.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 22nd. This represents a $0.40 annualized dividend and a yield of 1.40%. Applied Materials’s dividend payout ratio is currently 31.25%.
A number of brokerages have weighed in on AMAT. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $33.00 price target on shares of Applied Materials in a research report on Tuesday, October 4th. B. Riley reaffirmed a “buy” rating and set a $39.00 price target on shares of Applied Materials in a research report on Monday, September 26th. RBC Capital Markets reaffirmed a “sector perform” rating on shares of Applied Materials in a research report on Friday, September 23rd. Deutsche Bank AG reaffirmed a “buy” rating and set a $33.00 price target on shares of Applied Materials in a research report on Thursday, September 22nd. Finally, Nomura reaffirmed a “buy” rating and set a $31.00 price target on shares of Applied Materials in a research report on Thursday, September 22nd. Six analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $31.20.
In other Applied Materials news, VP Omkaram Nalamasu sold 26,035 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $30.15, for a total transaction of $784,955.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen R. Forrest sold 5,000 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $30.00, for a total value of $150,000.00. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
About Applied Materials
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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