State of Tennessee Treasury Department increased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 16.1% during the first quarter, Holdings Channel reports. The firm owned 2,475,761 shares of the manufacturing equipment provider’s stock after buying an additional 343,265 shares during the period. State of Tennessee Treasury Department’s holdings in Applied Materials were worth $96,307,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Independent Advisor Alliance bought a new position in shares of Applied Materials during the fourth quarter valued at $105,000. Reilly Financial Advisors LLC boosted its stake in shares of Applied Materials by 78.0% in the first quarter. Reilly Financial Advisors LLC now owns 2,692 shares of the manufacturing equipment provider’s stock valued at $105,000 after buying an additional 1,180 shares in the last quarter. First Interstate Bank boosted its stake in shares of Applied Materials by 2.9% in the fourth quarter. First Interstate Bank now owns 3,296 shares of the manufacturing equipment provider’s stock valued at $106,000 after buying an additional 93 shares in the last quarter. Pinnacle Bank acquired a new stake in shares of Applied Materials during the first quarter valued at about $113,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Applied Materials during the first quarter valued at about $114,000. 82.52% of the stock is owned by institutional investors.
Applied Materials, Inc. (NASDAQ:AMAT) opened at 46.80 on Friday. The firm has a 50-day moving average of $42.64 and a 200 day moving average of $36.83. The stock has a market capitalization of $50.29 billion, a price-to-earnings ratio of 19.35 and a beta of 1.81. Applied Materials, Inc. has a 52 week low of $22.17 and a 52 week high of $46.86.
Applied Materials (NASDAQ:AMAT) last announced 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. Applied Materials had a return on equity of 28.09% and a net margin of 15.90%. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period in the prior year, the company posted $0.34 EPS. Applied Materials’s quarterly revenue was up 44.7% on a year-over-year basis. On average, analysts anticipate that Applied Materials, Inc. will post $3.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, May 25th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Tuesday, May 23rd. Applied Materials’s payout ratio is 25.64%.
Several analysts have recently issued reports on AMAT shares. Royal Bank of Canada reissued a “hold” rating and set a $35.00 price target on shares of Applied Materials in a research report on Tuesday, April 25th. Bank of America Corp set a $40.00 price target on shares of Applied Materials and gave the stock a “buy” rating in a research report on Tuesday, February 14th. Vetr cut shares of Applied Materials from a “strong-buy” rating to a “buy” rating and set a $42.81 price target on the stock. in a research report on Wednesday, April 19th. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $40.00 price target (up previously from $35.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $48.00 price target (up previously from $45.00) on shares of Applied Materials in a research report on Friday, May 19th. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Applied Materials presently has an average rating of “Buy” and an average target price of $44.23.
Applied Materials Company Profile
Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMAT).
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/applied-materials-inc-amat-shares-bought-by-state-of-tennessee-treasury-department/1878793.html
Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.