Psagot Investment House Ltd. bought a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 6,000 shares of the manufacturing equipment provider’s stock, valued at approximately $313,000.
Other hedge funds have also bought and sold shares of the company. Summit Financial Wealth Advisors LLC lifted its stake in Applied Materials by 0.3% in the second quarter. Summit Financial Wealth Advisors LLC now owns 6,269 shares of the manufacturing equipment provider’s stock valued at $259,000 after purchasing an additional 19 shares during the last quarter. Adirondack Trust Co. lifted its stake in Applied Materials by 1.1% in the second quarter. Adirondack Trust Co. now owns 3,650 shares of the manufacturing equipment provider’s stock valued at $151,000 after purchasing an additional 40 shares during the last quarter. Affinity Wealth Management raised its holdings in Applied Materials by 0.8% during the 2nd quarter. Affinity Wealth Management now owns 6,387 shares of the manufacturing equipment provider’s stock valued at $264,000 after acquiring an additional 48 shares during the period. Wunderlich Capital Managemnt raised its holdings in Applied Materials by 2.9% during the 2nd quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock valued at $125,000 after acquiring an additional 87 shares during the period. Finally, Honkamp Krueger Financial Services Inc. raised its holdings in Applied Materials by 0.5% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 20,921 shares of the manufacturing equipment provider’s stock valued at $864,000 after acquiring an additional 97 shares during the period. 79.76% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on AMAT shares. Wells Fargo & Co began coverage on shares of Applied Materials in a research report on Tuesday, December 5th. They set an “outperform” rating and a $65.00 price target for the company. Goldman Sachs Group upgraded shares of Applied Materials from a “neutral” rating to a “buy” rating and increased their target price for the stock from $49.00 to $52.00 in a report on Wednesday, September 13th. Morgan Stanley reissued an “overweight” rating on shares of Applied Materials in a research note on Thursday, September 14th. Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “strong-buy” rating and set a $59.00 target price for the company in a research note on Friday, December 15th. Finally, Bank of America raised their price target on shares of Applied Materials from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. One analyst has rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $60.95.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.02. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.93 billion. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 earnings per share. equities analysts expect that Applied Materials, Inc. will post 4.04 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 21st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Tuesday, February 20th. Applied Materials’s dividend payout ratio is currently 12.62%.
In related news, Director Stephen R. Forrest sold 5,000 shares of Applied Materials stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $58.00, for a total value of $290,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas F. Larkins sold 30,000 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
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Applied Materials Profile
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