Migdal Insurance & Financial Holdings Ltd. Takes Position in Applied Materials, Inc. (AMAT)

Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,228 shares of the manufacturing equipment provider’s stock, valued at approximately $134,000.

Other institutional investors have also bought and sold shares of the company. Commonwealth Bank of Australia boosted its stake in shares of Applied Materials by 2.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 87,942 shares of the manufacturing equipment provider’s stock worth $3,632,000 after buying an additional 2,279 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of Applied Materials during the 2nd quarter worth about $2,082,000. Bridgewater Associates LP bought a new stake in shares of Applied Materials in the 2nd quarter valued at about $8,834,000. MARSHALL WACE ASIA Ltd bought a new stake in shares of Applied Materials in the 1st quarter valued at about $113,715,000. Finally, BlackRock Inc. raised its holdings in shares of Applied Materials by 2,063.7% in the 1st quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock valued at $2,606,676,000 after purchasing an additional 63,912,660 shares during the period. Institutional investors own 79.48% of the company’s stock.

Shares of Applied Materials, Inc. (AMAT) traded up 0.36% on Thursday, hitting $53.42. 1,850,114 shares of the stock traded hands. The stock has a market cap of $56.97 billion, a price-to-earnings ratio of 18.99 and a beta of 1.86. The stock has a 50 day moving average price of $47.57 and a 200-day moving average price of $44.16. Applied Materials, Inc. has a 52 week low of $27.56 and a 52 week high of $53.64.

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

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Wednesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 14.18%.

In other news, Director Alexander Karsner sold 22,762 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas F. Larkins sold 30,000 shares of the business’s stock in a transaction that occurred 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.

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A number of brokerages have recently issued reports on AMAT. Citigroup Inc. reaffirmed a “buy” rating and issued a $58.00 target price on shares of Applied Materials in a report on Thursday. Evercore ISI reaffirmed an “outperform” rating and issued a $65.00 target price (up from $56.00) on shares of Applied Materials in a report on Saturday, September 30th. Instinet reaffirmed a “buy” rating and issued a $55.00 target price (up from $50.00) on shares of Applied Materials in a report on Saturday, September 30th. B. Riley reaffirmed a “buy” rating and issued a $63.00 target price on shares of Applied Materials in a report on Saturday, September 30th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Applied Materials in a report on Sunday, October 1st. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Applied Materials presently has a consensus rating of “Buy” and an average price target of $56.37.

Applied Materials Profile

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

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