Cornerstone Capital Management Holdings LLC. decreased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 13.7% during the first quarter, Holdings Channel reports. The fund owned 964,783 shares of the manufacturing equipment provider’s stock after selling 152,733 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Applied Materials were worth $37,529,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC purchased a new stake in shares of Applied Materials during the fourth quarter valued at about $123,000. Flinton Capital Management LLC bought a new stake in Applied Materials during the fourth quarter worth $57,039,000. Oribel Capital Management LP bought a new stake in Applied Materials during the fourth quarter worth $6,051,000. Shelton Capital Management raised its stake in Applied Materials by 5.8% in the fourth quarter. Shelton Capital Management now owns 180,204 shares of the manufacturing equipment provider’s stock worth $5,815,000 after buying an additional 9,800 shares during the period. Finally, Employees Retirement System of Texas raised its stake in Applied Materials by 13.9% in the fourth quarter. Employees Retirement System of Texas now owns 552,200 shares of the manufacturing equipment provider’s stock worth $17,819,000 after buying an additional 67,200 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.
Applied Materials, Inc. (NASDAQ:AMAT) opened at 44.09 on Friday. The company has a market capitalization of $47.38 billion, a PE ratio of 18.23 and a beta of 1.81. The stock’s 50 day moving average price is $44.26 and its 200 day moving average price is $38.08. Applied Materials, Inc. has a 12-month low of $22.17 and a 12-month high of $47.86.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.54 billion. Applied Materials had a net margin of 20.41% and a return on equity of 38.28%. The business’s quarterly revenue was up 44.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 earnings per share. On average, equities analysts anticipate that Applied Materials, Inc. will post $3.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Tuesday, August 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 16.46%.
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A number of equities research analysts have recently weighed in on the company. Vetr raised Applied Materials from a “hold” rating to a “buy” rating and set a $45.72 target price for the company in a research note on Thursday. Bank of America Corporation reissued a “buy” rating and issued a $65.00 target price (up previously from $58.00) on shares of Applied Materials in a research note on Sunday, June 11th. B. Riley reissued a “buy” rating and issued a $56.00 target price on shares of Applied Materials in a research note on Thursday, May 25th. Instinet reissued a “buy” rating and issued a $47.00 target price (up previously from $40.00) on shares of Applied Materials in a research note on Sunday, May 21st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $47.00 target price (up previously from $37.00) on shares of Applied Materials in a research note on Sunday, May 21st. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $44.89.
Applied Materials Company Profile
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