Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 32.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 590,746 shares of the manufacturing equipment provider’s stock after buying an additional 144,711 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Applied Materials were worth $17,811,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of AMAT. First Quadrant L P CA bought a new position in Applied Materials during the third quarter worth approximately $103,000. MCF Advisors LLC increased its position in Applied Materials by 0.3% in the third quarter. MCF Advisors LLC now owns 3,643 shares of the manufacturing equipment provider’s stock worth $110,000 after buying an additional 12 shares during the period. Jacobus Wealth Management Inc. bought a new position in Applied Materials during the third quarter worth approximately $128,000. Orinda Asset Management LLC bought a new position in Applied Materials during the third quarter worth approximately $128,000. Finally, New York Life Trust Co. increased its position in Applied Materials by 193.5% in the third quarter. New York Life Trust Co. now owns 4,308 shares of the manufacturing equipment provider’s stock worth $130,000 after buying an additional 2,840 shares during the period. 81.64% of the stock is owned by institutional investors and hedge funds.
Applied Materials, Inc. (NASDAQ:AMAT) opened at 35.32 on Friday. The firm’s 50 day moving average price is $33.81 and its 200-day moving average price is $30.54. Applied Materials, Inc. has a 12-month low of $16.15 and a 12-month high of $35.85. The company has a market capitalization of $38.02 billion, a PE ratio of 22.94 and a beta of 1.81.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data 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. The company had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Applied Materials had a return on equity of 28.09% and a net margin of 15.90%. Applied Materials’s revenue for the quarter was up 39.2% compared to the same quarter last year. During the same period last year, the firm posted $0.29 EPS. On average, equities analysts anticipate that Applied Materials, Inc. will post $2.44 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, February 22nd will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, February 17th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.13%. Applied Materials’s dividend payout ratio is 25.64%.
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A number of research firms recently commented on AMAT. B. Riley reaffirmed a “buy” rating and issued a $38.00 price target on shares of Applied Materials in a research note on Wednesday, November 23rd. Bank of America Corporation set a $35.00 price target on Applied Materials and gave the company a “buy” rating in a research note on Saturday, November 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price target (up previously from $34.00) on shares of Applied Materials in a research note on Tuesday, December 6th. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $35.25 price target for the company in a research note on Thursday, December 1st. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Applied Materials in a research note on Friday, January 6th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Applied Materials has a consensus rating of “Buy” and an average price target of $32.42.
In related news, Director Dennis D. Powell sold 21,017 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $31.95, for a total transaction of $671,493.15. Following the transaction, the director now directly owns 98,207 shares of the company’s stock, valued at approximately $3,137,713.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas F. Larkins sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $31.94, for a total value of $3,194,000.00. Following the transaction, the vice president now directly owns 482,782 shares in the company, valued at $15,420,057.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,817 shares of company stock worth $4,018,421. 0.31% of the stock is currently owned by insiders.
About Applied Materials
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