Murphy Pohlad Asset Management LLC reduced its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 26.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,550 shares of the manufacturing equipment provider’s stock after selling 5,470 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in Applied Materials were worth $809,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMAT. Paragon Capital Management Ltd purchased a new stake in shares of Applied Materials during the 3rd quarter valued at $267,000. Pictet Asset Management Ltd. increased its holdings in Applied Materials by 17.3% in the 3rd quarter. Pictet Asset Management Ltd. now owns 961,644 shares of the manufacturing equipment provider’s stock worth $50,092,000 after acquiring an additional 141,679 shares during the last quarter. Doyle Wealth Management purchased a new stake in Applied Materials in the 3rd quarter worth about $236,000. Regentatlantic Capital LLC increased its holdings in Applied Materials by 8.4% in the 3rd quarter. Regentatlantic Capital LLC now owns 20,064 shares of the manufacturing equipment provider’s stock worth $1,045,000 after acquiring an additional 1,556 shares during the last quarter. Finally, First Midwest Bank Trust Division increased its holdings in Applied Materials by 6.4% in the 3rd quarter. First Midwest Bank Trust Division now owns 80,510 shares of the manufacturing equipment provider’s stock worth $4,194,000 after acquiring an additional 4,817 shares during the last quarter. 79.35% of the stock is owned by institutional investors and hedge funds.
Applied Materials, Inc. (NASDAQ:AMAT) traded up $0.67 during trading hours on Tuesday, hitting $57.03. The company had a trading volume of 9,414,400 shares, compared to its average volume of 9,756,110. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.91 and a quick ratio of 2.25. Applied Materials, Inc. has a 12-month low of $28.93 and a 12-month high of $57.34. The stock has a market capitalization of $59,920.00, a PE ratio of 18.91, a P/E/G ratio of 0.90 and a beta of 1.85.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The company 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 firm’s revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 earnings per share. research analysts predict that Applied Materials, Inc. will post 3.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.40 annualized dividend and a dividend yield of 0.70%. Applied Materials’s payout ratio is 14.18%.
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Several equities research analysts recently weighed in on the company. B. Riley reissued a “buy” rating and issued a $61.00 price objective on shares of Applied Materials in a report on Saturday, August 19th. Instinet restated a “buy” rating and issued a $55.00 target price (up previously from $50.00) on shares of Applied Materials in a research note on Saturday, September 30th. Craig Hallum reiterated a “buy” rating and set a $76.00 price target (up previously from $60.00) on shares of Applied Materials in a research report on Thursday, September 28th. Stifel Nicolaus reiterated a “buy” rating on shares of Applied Materials in a research report on Sunday, October 1st. Finally, Vetr upgraded Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 price target for the company in a research report on Thursday, August 10th. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $56.64.
In other Applied Materials news, VP Thomas F. Larkins sold 30,000 shares of the firm’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $51.24, for a total transaction of $1,537,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Alexander Karsner sold 22,762 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.
Applied Materials Company Profile
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