Retirement Systems of Alabama reduced its position in shares of Applied Materials Inc. (NASDAQ:AMAT) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 546,686 shares of the manufacturing equipment provider’s stock after selling 8,570 shares during the period. Retirement Systems of Alabama owned approximately 0.05% of Applied Materials worth $16,483,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in AMAT. FMR LLC increased its stake in shares of Applied Materials by 65.3% in the second quarter. FMR LLC now owns 32,620,245 shares of the manufacturing equipment provider’s stock worth $781,907,000 after buying an additional 12,881,391 shares in the last quarter. Winslow Capital Management LLC bought a new position in Applied Materials during the second quarter worth approximately $173,715,000. Emerald Acquisition Ltd. bought a new position in Applied Materials during the second quarter worth approximately $113,508,000. Bank of Montreal Can increased its position in Applied Materials by 340.2% in the third quarter. Bank of Montreal Can now owns 4,651,215 shares of the manufacturing equipment provider’s stock worth $140,233,000 after buying an additional 3,594,718 shares during the period. Finally, Old Mutual Global Investors UK Ltd. bought a new position in Applied Materials during the second quarter worth approximately $74,805,000. 81.44% of the stock is currently owned by institutional investors.
Applied Materials Inc. (NASDAQ:AMAT) remained flat at $31.88 during midday trading on Friday. 4,690,342 shares of the company were exchanged. The stock has a market capitalization of $34.46 billion, a PE ratio of 20.70 and a beta of 1.86. Applied Materials Inc. has a 52 week low of $15.44 and a 52 week high of $31.97. The company has a 50-day moving average price of $29.16 and a 200-day moving average price of $26.89.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, November 17th. The manufacturing equipment provider reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. Applied Materials had a net margin of 15.90% and a return on equity of 28.09%. The company earned $3.30 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the company earned $0.29 EPS. Applied Materials’s revenue was up 39.2% on a year-over-year basis. On average, equities research analysts predict that Applied Materials Inc. will post $2.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Tuesday, November 22nd. Applied Materials’s payout ratio is 25.64%.
AMAT has been the topic of a number of recent analyst reports. Pacific Crest reaffirmed a “buy” rating on shares of Applied Materials in a research report on Thursday, September 22nd. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $29.00 target price (up from $26.00) on shares of Applied Materials in a research report on Thursday, August 18th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $33.00 target price on shares of Applied Materials in a research report on Tuesday, October 4th. B. Riley reaffirmed a “buy” rating and issued a $38.00 target price on shares of Applied Materials in a research report on Friday, November 18th. Finally, Morgan Stanley reaffirmed a “buy” rating and issued a $25.00 target price on shares of Applied Materials in a research report on Tuesday, August 16th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Applied Materials presently has an average rating of “Buy” and a consensus price target of $31.95.
In other Applied Materials news, insider Gary E. Dickerson sold 229,935 shares of the company’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $29.71, for a total value of $6,831,368.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Omkaram Nalamasu sold 99,491 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $30.15, for a total transaction of $2,999,653.65. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
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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