The 10,500 Shares of Applied Materials Inc. (AMAT) are sold by Eliot Finkel Investment Counsel LLC

The 10,500 Shares of Applied Materials Inc. (AMAT) are sold by Eliot Finkel Investment Counsel LLC

Eliot Finkel Investment Counsel LLC lowered its position in Applied Materials Inc. (NASDAQ:AMAT) by 4.3% during the second quarter, Holdings Channel reports. The firm owned 235,930 shares of the manufacturing equipment provider’s stock after selling 10,500 shares during the period. Applied Materials accounts for about 5.0% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its 4th largest position. Eliot Finkel Investment Counsel LLC’s holdings in Applied Materials were worth $5,655,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AMAT. Huntington National Bank boosted its stake in shares of Applied Materials by 303.8% in the second quarter. Huntington National Bank now owns 429,025 shares of the manufacturing equipment provider’s stock worth $10,284,000 after buying an additional 322,784 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Applied Materials by 2.4% in the first quarter. Legal & General Group Plc now owns 5,063,202 shares of the manufacturing equipment provider’s stock worth $107,236,000 after buying an additional 119,577 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Applied Materials by 602.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 421,389 shares of the manufacturing equipment provider’s stock worth $10,100,000 after buying an additional 361,392 shares during the last quarter. AXA boosted its stake in shares of Applied Materials by 460.6% in the first quarter. AXA now owns 39,800 shares of the manufacturing equipment provider’s stock worth $843,000 after buying an additional 32,700 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its stake in shares of Applied Materials by 3,147,067.3% in the second quarter. ClariVest Asset Management LLC now owns 1,730,942 shares of the manufacturing equipment provider’s stock worth $41,490,000 after buying an additional 1,730,887 shares during the last quarter. 82.20% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Inc. (NASDAQ:AMAT) traded up 0.75% during midday trading on Friday, reaching $28.07. The company had a trading volume of 12,138,271 shares. The company has a 50-day moving average of $29.72 and a 200-day moving average of $25.13. The stock has a market capitalization of $30.34 billion, a PE ratio of 22.14 and a beta of 1.84. Applied Materials Inc. has a 12-month low of $15.44 and a 12-month high of $31.07.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.02. Applied Materials had a return on equity of 22.37% and a net margin of 14.62%. The firm had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. The business’s revenue was up 13.3% compared to the same quarter last year. On average, analysts predict that Applied Materials Inc. will post $1.75 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 25th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $0.40 annualized dividend and a dividend yield of 1.43%. Applied Materials’s dividend payout ratio (DPR) is presently 31.25%.

A number of research analysts recently commented on the company. Deutsche Bank AG reaffirmed a “buy” rating and issued a $33.00 price target on shares of Applied Materials in a research note on Thursday, September 22nd. Pacific Crest reaffirmed a “buy” rating on shares of Applied Materials in a research note on Thursday, September 22nd. Berenberg Bank boosted their price target on Applied Materials from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, September 22nd. Nomura reaffirmed a “buy” rating and issued a $31.00 price target on shares of Applied Materials in a research note on Thursday, September 22nd. Finally, B. Riley reaffirmed a “buy” rating and issued a $39.00 price target on shares of Applied Materials in a research note on Wednesday, September 21st. Six analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $31.20.

In other news, insider Gary E. Dickerson sold 229,935 shares of the business’s stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $29.71, for a total transaction of $6,831,368.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Omkaram Nalamasu sold 26,035 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $30.15, for a total value of $784,955.25. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Applied Materials Company Profile

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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