Blair William & Co. IL Reduces Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Blair William & Co. IL trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMATFree Report) by 13.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 79,864 shares of the manufacturing equipment provider’s stock after selling 11,972 shares during the quarter. Blair William & Co. IL’s holdings in Applied Materials were worth $11,057,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. California Public Employees Retirement System increased its position in Applied Materials by 0.3% during the 3rd quarter. California Public Employees Retirement System now owns 2,161,556 shares of the manufacturing equipment provider’s stock valued at $299,267,000 after buying an additional 6,466 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Applied Materials by 9.1% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 830,038 shares of the manufacturing equipment provider’s stock valued at $114,919,000 after acquiring an additional 69,388 shares in the last quarter. New England Research & Management Inc. purchased a new position in shares of Applied Materials in the 3rd quarter valued at approximately $433,000. Claro Advisors LLC boosted its stake in Applied Materials by 8.3% in the 2nd quarter. Claro Advisors LLC now owns 5,370 shares of the manufacturing equipment provider’s stock worth $776,000 after purchasing an additional 411 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Applied Materials by 26.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,068,445 shares of the manufacturing equipment provider’s stock worth $147,926,000 after purchasing an additional 223,984 shares during the last quarter. 77.24% of the stock is currently owned by institutional investors.

Applied Materials Trading Up 6.9 %

Shares of AMAT stock opened at $185.84 on Monday. Applied Materials, Inc. has a fifty-two week low of $109.00 and a fifty-two week high of $186.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.82 and a current ratio of 2.60. The stock’s fifty day moving average is $160.18 and its two-hundred day moving average is $149.49. The firm has a market capitalization of $154.63 billion, a P/E ratio of 22.91, a PEG ratio of 3.67 and a beta of 1.55.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.14. The firm had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.52 billion. Applied Materials had a net margin of 25.85% and a return on equity of 46.12%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $2.03 earnings per share. Research analysts expect that Applied Materials, Inc. will post 7.61 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 22nd will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Wednesday, February 21st. Applied Materials’s dividend payout ratio (DPR) is presently 15.78%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMAT. Bank Of America (Bofa) boosted their price objective on shares of Applied Materials from $170.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Cantor Fitzgerald began coverage on Applied Materials in a report on Tuesday, January 23rd. They issued a “neutral” rating and a $180.00 price objective on the stock. Redburn Atlantic raised Applied Materials from a “neutral” rating to a “buy” rating and set a $175.00 target price for the company in a report on Wednesday, November 22nd. TD Cowen increased their price target on shares of Applied Materials from $165.00 to $185.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Finally, Raymond James lifted their price objective on shares of Applied Materials from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $167.92.

Get Our Latest Stock Analysis on Applied Materials

Insider Buying and Selling at Applied Materials

In other news, SVP Omkaram Nalamasu sold 23,228 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $162.45, for a total transaction of $3,773,388.60. Following the sale, the senior vice president now owns 190,972 shares of the company’s stock, valued at approximately $31,023,401.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by insiders.

Applied Materials Company Profile

(Free Report)

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.

Further Reading

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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