Todays Report: Today, Swiss National Bank Sold shares of Applied Materials Inc. (AMAT)

Today, Swiss National Bank Sold shares of Applied Materials Inc. (AMAT)

Swiss National Bank reduced its position in shares of Applied Materials Inc. (NASDAQ:AMAT) by 3.9% during the third quarter, Holdings Channel reports. The fund owned 3,047,122 shares of the manufacturing equipment provider’s stock after selling 122,500 shares during the period. Swiss National Bank’s holdings in Applied Materials were worth $91,871,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. DNB Asset Management AS boosted its stake in shares of Applied Materials by 0.6% in the second quarter. DNB Asset Management AS now owns 234,105 shares of the manufacturing equipment provider’s stock worth $5,611,000 after buying an additional 1,400 shares during the last quarter. British Columbia Investment Management Corp boosted its stake in shares of Applied Materials by 17.8% in the second quarter. British Columbia Investment Management Corp now owns 733,215 shares of the manufacturing equipment provider’s stock worth $17,575,000 after buying an additional 110,627 shares during the last quarter. NEXT Financial Group Inc boosted its stake in shares of Applied Materials by 406.1% in the second quarter. NEXT Financial Group Inc now owns 6,605 shares of the manufacturing equipment provider’s stock worth $158,000 after buying an additional 5,300 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Applied Materials by 6.7% in the second quarter. Raymond James Trust N.A. now owns 165,371 shares of the manufacturing equipment provider’s stock worth $3,965,000 after buying an additional 10,442 shares during the last quarter. Finally, Park National Corp OH boosted its stake in shares of Applied Materials by 4.0% in the second quarter. Park National Corp OH now owns 12,052 shares of the manufacturing equipment provider’s stock worth $289,000 after buying an additional 460 shares during the last quarter. Hedge funds and other institutional investors own 80.36% of the company’s stock.

Shares of Applied Materials Inc. (NASDAQ:AMAT) opened at 31.84 on Tuesday. Applied Materials Inc. has a 1-year low of $15.44 and a 1-year high of $32.16. The firm’s 50-day moving average is $29.28 and its 200-day moving average is $27.16. The company has a market capitalization of $34.42 billion, a price-to-earnings ratio of 20.68 and a beta of 1.86.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 17th. The manufacturing equipment provider reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The firm had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Applied Materials had a net margin of 15.90% and a return on equity of 28.09%. The business’s revenue for the quarter was up 39.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 earnings per share. Analysts forecast that Applied Materials Inc. will post $2.35 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be paid 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 dividend payout ratio (DPR) is presently 25.64%.

AMAT has been the topic of a number of recent research reports. B. Riley restated an “amat ($29.20” rating and set a $39.00 price target on shares of Applied Materials in a research note on Sunday, August 21st. Goldman Sachs Group Inc. set a $33.00 target price on shares of Applied Materials and gave the stock a “buy” rating in a report on Friday, August 19th. Citigroup Inc. upped their target price on shares of Applied Materials from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, August 19th. Morgan Stanley reaffirmed a “buy” rating and set a $25.00 target price on shares of Applied Materials in a report on Tuesday, August 16th. Finally, DA Davidson reaffirmed a “buy” rating and set a $32.00 target price (up previously from $28.00) on shares of Applied Materials in a report on Tuesday, August 16th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $31.95.

In other Applied Materials news, VP Omkaram Nalamasu sold 99,491 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary E. Dickerson sold 229,935 shares of the stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $29.71, for a total transaction of $6,831,368.85. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

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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