Mutual of America Capital Management LLC Cuts Stake in Applied Materials, Inc. (AMAT)

Mutual of America Capital Management LLC trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 171,872 shares of the manufacturing equipment provider’s stock after selling 7,977 shares during the period. Mutual of America Capital Management LLC’s holdings in Applied Materials were worth $8,953,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of AMAT. American International Group Inc. lifted its holdings in shares of Applied Materials by 8.3% in the first quarter. American International Group Inc. now owns 508,340 shares of the manufacturing equipment provider’s stock valued at $19,774,000 after purchasing an additional 39,007 shares in the last quarter. Cibc World Markets Corp lifted its holdings in shares of Applied Materials by 48.5% in the first quarter. Cibc World Markets Corp now owns 118,265 shares of the manufacturing equipment provider’s stock valued at $4,601,000 after purchasing an additional 38,649 shares in the last quarter. WBI Investments Inc. lifted its holdings in shares of Applied Materials by 3.0% in the first quarter. WBI Investments Inc. now owns 129,962 shares of the manufacturing equipment provider’s stock valued at $5,056,000 after purchasing an additional 3,784 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Applied Materials by 3.1% in the first quarter. Neuberger Berman Group LLC now owns 45,351 shares of the manufacturing equipment provider’s stock valued at $1,764,000 after purchasing an additional 1,351 shares in the last quarter. Finally, Vident Investment Advisory LLC bought a new stake in shares of Applied Materials in the first quarter valued at about $2,786,000. Institutional investors own 79.45% of the company’s stock.

Applied Materials, Inc. (NASDAQ AMAT) traded up 1.37% during trading on Friday, hitting $56.09. The stock had a trading volume of 10,575,253 shares. The firm has a market capitalization of $59.82 billion, a PE ratio of 19.94 and a beta of 1.86. The firm has a 50 day moving average price of $49.71 and a 200-day moving average price of $44.92. Applied Materials, Inc. has a 1-year low of $28.02 and a 1-year high of $56.24.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. Applied Materials’s revenue was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. On average, equities research analysts expect that Applied Materials, Inc. will post $3.21 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.71%. Applied Materials’s payout ratio is 14.18%.

In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total transaction of $1,002,210.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas F. Larkins sold 30,000 shares of the business’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $51.24, for a total transaction of $1,537,200.00. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

A number of brokerages have recently commented on AMAT. Citigroup Inc. restated a “buy” rating and issued a $58.00 price target on shares of Applied Materials in a report on Thursday, October 12th. Deutsche Bank AG restated a “buy” rating and issued a $58.00 price target on shares of Applied Materials in a report on Thursday, October 12th. Evercore ISI restated an “outperform” rating and issued a $65.00 price target (up from $56.00) on shares of Applied Materials in a report on Saturday, September 30th. Instinet restated a “buy” rating and issued a $55.00 price target (up from $50.00) on shares of Applied Materials in a report on Saturday, September 30th. Finally, B. Riley restated a “buy” rating and issued a $63.00 price target on shares of Applied Materials in a report on Saturday, September 30th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Applied Materials has an average rating of “Buy” and an average target price of $56.64.

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Applied Materials Company Profile

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

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