World Asset Management Inc trimmed its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 6.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,314 shares of the manufacturing equipment provider’s stock after selling 1,679 shares during the quarter. World Asset Management Inc’s holdings in Applied Materials were worth $3,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently modified their holdings of AMAT. Larson Financial Group LLC increased its holdings in Applied Materials by 10,977.6% during the 2nd quarter. Larson Financial Group LLC now owns 69,346 shares of the manufacturing equipment provider’s stock worth $9,875,000 after purchasing an additional 68,720 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Applied Materials by 7.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 207,900 shares of the manufacturing equipment provider’s stock valued at $29,605,000 after purchasing an additional 15,063 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Applied Materials by 1.4% during the second quarter. Principal Financial Group Inc. now owns 1,184,893 shares of the manufacturing equipment provider’s stock worth $168,728,000 after acquiring an additional 16,012 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Applied Materials by 4.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 111,622 shares of the manufacturing equipment provider’s stock worth $15,895,000 after acquiring an additional 4,519 shares in the last quarter. Finally, Mitchell Capital Management Co. bought a new position in shares of Applied Materials in the second quarter worth $1,309,000. 75.37% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on AMAT. Susquehanna Bancshares cut Applied Materials from a “positive” rating to a “neutral” rating and reduced their target price for the company from $170.00 to $160.00 in a research note on Tuesday. Susquehanna lowered shares of Applied Materials from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $170.00 to $160.00 in a report on Tuesday. Daiwa Capital Markets began coverage on shares of Applied Materials in a report on Thursday, August 19th. They issued an “outperform” rating and a $140.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on shares of Applied Materials from $146.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, May 21st. Finally, Zacks Investment Research upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a report on Tuesday, May 25th. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $152.85.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Wednesday, August 18th. The manufacturing equipment provider reported $1.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.13. Applied Materials had a net margin of 24.54% and a return on equity of 49.27%. The business had revenue of $6.20 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the prior year, the business posted $1.06 EPS. Research analysts anticipate that Applied Materials, Inc. will post 6.84 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 16th. Shareholders of record on Friday, November 26th will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, November 24th. This represents a $0.96 dividend on an annualized basis and a yield of 0.69%. Applied Materials’s payout ratio is 23.02%.
In other news, SVP Ginetto Addiego sold 40,000 shares of the stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $134.83, for a total value of $5,393,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Omkaram Nalamasu sold 51,000 shares of the firm’s stock in a transaction on Wednesday, June 30th. The shares were sold at an average price of $142.16, for a total transaction of $7,250,160.00. The disclosure for this sale can be found here. Insiders have sold a total of 115,500 shares of company stock worth $16,042,275 in the last 90 days. 0.37% of the stock is currently owned by company insiders.
Applied Materials Profile
Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.
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