Meeder Asset Management Inc. boosted its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 16.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 109,648 shares of the manufacturing equipment provider’s stock after buying an additional 15,819 shares during the period. Meeder Asset Management Inc.’s holdings in Applied Materials were worth $4,529,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Applied Materials by 3.4% in the first quarter. Vanguard Group Inc. now owns 73,362,409 shares of the manufacturing equipment provider’s stock worth $2,853,797,000 after buying an additional 2,441,471 shares during the period. BlackRock Inc. boosted its position in Applied Materials by 2,063.7% in the first quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock worth $2,606,676,000 after buying an additional 63,912,660 shares during the period. FMR LLC boosted its position in Applied Materials by 16.8% in the first quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock worth $1,245,311,000 after buying an additional 4,604,275 shares during the period. Ameriprise Financial Inc. boosted its position in Applied Materials by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 12,887,690 shares of the manufacturing equipment provider’s stock worth $501,248,000 after buying an additional 3,191,737 shares during the period. Finally, Egerton Capital UK LLP bought a new position in Applied Materials during the first quarter worth $452,897,000. 80.06% of the stock is owned by hedge funds and other institutional investors.
Applied Materials, Inc. (NASDAQ:AMAT) traded down 0.02% during midday trading on Tuesday, reaching $44.30. The company’s stock had a trading volume of 3,489,054 shares. Applied Materials, Inc. has a 12 month low of $25.68 and a 12 month high of $47.86. The stock’s 50-day moving average price is $44.40 and its 200-day moving average price is $40.50. The firm has a market capitalization of $47.61 billion, a price-to-earnings ratio of 18.32 and a beta of 1.81.
Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.03. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.54 billion. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. The company’s revenue for the quarter was up 44.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. Analysts predict that Applied Materials, Inc. will post $3.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.90%. Applied Materials’s payout ratio is currently 16.46%.
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AMAT has been the subject of a number of analyst reports. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $42.81 price target for the company in a report on Tuesday, April 11th. DA Davidson reissued a “buy” rating and issued a $55.00 price target on shares of Applied Materials in a report on Monday, July 10th. Stifel Nicolaus boosted their price target on Applied Materials from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, May 15th. Deutsche Bank AG reissued a “buy” rating and issued a $48.00 price target (up from $45.00) on shares of Applied Materials in a report on Friday, May 19th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $50.00 price target on shares of Applied Materials in a report on Wednesday, May 17th. Four equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $46.62.
Applied Materials Company Profile
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