Great West Life Assurance Co. Can decreased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 834,425 shares of the manufacturing equipment provider’s stock after selling 26,738 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Applied Materials were worth $41,675,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Greenleaf Trust raised its stake in Applied Materials by 8.5% during the second quarter. Greenleaf Trust now owns 15,309 shares of the manufacturing equipment provider’s stock valued at $688,000 after buying an additional 1,201 shares during the last quarter. Coastal Investment Advisors Inc. raised its stake in Applied Materials by 82.9% during the second quarter. Coastal Investment Advisors Inc. now owns 2,304 shares of the manufacturing equipment provider’s stock valued at $103,000 after buying an additional 1,044 shares during the last quarter. Hartford Financial Management Inc. raised its stake in Applied Materials by 0.6% during the second quarter. Hartford Financial Management Inc. now owns 42,875 shares of the manufacturing equipment provider’s stock valued at $1,926,000 after buying an additional 248 shares during the last quarter. Nvwm LLC raised its stake in Applied Materials by 28.0% during the second quarter. Nvwm LLC now owns 17,597 shares of the manufacturing equipment provider’s stock valued at $790,000 after buying an additional 3,844 shares during the last quarter. Finally, Holocene Advisors LP purchased a new position in Applied Materials during the second quarter valued at $19,389,000. Institutional investors and hedge funds own 79.02% of the company’s stock.
AMAT stock opened at $56.95 on Tuesday. Applied Materials, Inc. has a 1-year low of $28.79 and a 1-year high of $57.29. The business has a fifty day moving average price of $51.55 and a 200-day moving average price of $46.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.65 and a quick ratio of 1.72. The stock has a market capitalization of $51.47 billion, a P/E ratio of 17.30, a P/E/G ratio of 3.71 and a beta of 1.65.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. Applied Materials had a return on equity of 39.37% and a net margin of 19.40%. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. Applied Materials’s revenue was down 14.4% compared to the same quarter last year. As a group, analysts anticipate that Applied Materials, Inc. will post 3 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, November 20th. Applied Materials’s payout ratio is currently 18.88%.
In related news, Director Dennis D. Powell sold 25,218 shares of Applied Materials stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $51.44, for a total value of $1,297,213.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen R. Forrest sold 3,000 shares of Applied Materials stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $46.00, for a total value of $138,000.00. The disclosure for this sale can be found here. Insiders sold 53,945 shares of company stock valued at $2,776,105 in the last ninety days. 0.44% of the stock is currently owned by corporate insiders.
A number of research analysts have issued reports on the company. Deutsche Bank lifted their price objective on Applied Materials from $47.00 to $52.00 and gave the company a “hold” rating in a research note on Thursday, October 10th. ValuEngine cut Applied Materials from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Goldman Sachs Group cut Applied Materials from a “buy” rating to a “neutral” rating in a research note on Monday, July 22nd. Needham & Company LLC boosted their price target on Applied Materials from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, Cowen restated an “outperform” rating and issued a $55.00 price target (up previously from $53.00) on shares of Applied Materials in a research note on Friday, August 16th. Ten analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $52.67.
Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.
Featured Article: What is a front-end load?
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).
Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.