Wellington Shields Capital Management LLC cut its position in Applied Materials, Inc. (NASDAQ:AMAT) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,312 shares of the manufacturing equipment provider’s stock after selling 3,399 shares during the quarter. Applied Materials accounts for 1.0% of Wellington Shields Capital Management LLC’s holdings, making the stock its 8th largest holding. Wellington Shields Capital Management LLC’s holdings in Applied Materials were worth $7,517,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mathes Company Inc. acquired a new stake in shares of Applied Materials in the third quarter valued at $1,613,000. Commonwealth Bank of Australia grew its stake in shares of Applied Materials by 2.7% in the second quarter. Commonwealth Bank of Australia now owns 87,942 shares of the manufacturing equipment provider’s stock valued at $3,632,000 after buying an additional 2,279 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Applied Materials in the second quarter valued at $2,082,000. Bridgewater Associates LP acquired a new stake in shares of Applied Materials in the second quarter valued at $8,834,000. Finally, Aperio Group LLC grew its stake in shares of Applied Materials by 6.3% in the third quarter. Aperio Group LLC now owns 539,785 shares of the manufacturing equipment provider’s stock valued at $28,117,000 after buying an additional 31,917 shares in the last quarter. 79.35% of the stock is owned by institutional investors and hedge funds.
AMAT has been the subject of a number of research reports. Craig Hallum lifted their price objective on Applied Materials to $60.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Credit Suisse Group reiterated a “buy” rating and issued a $62.00 target price on shares of Applied Materials in a report on Tuesday, September 26th. Stifel Nicolaus reiterated a “buy” rating on shares of Applied Materials in a report on Sunday, October 1st. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $48.00 target price (up from $46.00) on shares of Applied Materials in a report on Sunday, August 20th. Finally, Vetr upgraded Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 target price for the company in a report on Thursday, August 10th. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $56.64.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. equities research analysts forecast that Applied Materials, Inc. will post 3.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Wednesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 14.18%.
In related news, VP Thomas F. Larkins sold 30,000 shares of the business’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $51.24, for a total value of $1,537,200.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Alexander Karsner sold 22,762 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.
About Applied Materials
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