PNC Financial Services Group Inc. Has $91.66 Million Holdings in Applied Materials, Inc. $AMAT

PNC Financial Services Group Inc. grew its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 500,670 shares of the manufacturing equipment provider’s stock after acquiring an additional 24,700 shares during the period. PNC Financial Services Group Inc. owned 0.06% of Applied Materials worth $91,658,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Maseco LLP acquired a new position in Applied Materials during the 2nd quarter worth $30,000. Clal Insurance Enterprises Holdings Ltd raised its position in shares of Applied Materials by 435.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 214 shares of the manufacturing equipment provider’s stock worth $31,000 after acquiring an additional 174 shares during the last quarter. Activest Wealth Management lifted its stake in shares of Applied Materials by 5,325.0% during the first quarter. Activest Wealth Management now owns 217 shares of the manufacturing equipment provider’s stock valued at $31,000 after acquiring an additional 213 shares during the period. Quaker Wealth Management LLC increased its position in Applied Materials by 133.3% in the second quarter. Quaker Wealth Management LLC now owns 218 shares of the manufacturing equipment provider’s stock worth $40,000 after purchasing an additional 873 shares during the period. Finally, RMG Wealth Management LLC bought a new stake in Applied Materials during the 2nd quarter worth about $47,000. 80.56% of the stock is owned by institutional investors.

Applied Materials Stock Up 0.9%

Shares of Applied Materials stock opened at $230.73 on Thursday. The company has a market capitalization of $183.81 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 2.95 and a beta of 1.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.50 and a quick ratio of 1.76. The business has a 50-day moving average of $209.71 and a two-hundred day moving average of $186.02. Applied Materials, Inc. has a 1 year low of $123.74 and a 1 year high of $242.50.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 14th. The manufacturing equipment provider reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.12. Applied Materials had a return on equity of 40.96% and a net margin of 23.88%.The business had revenue of $7.30 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter in the previous year, the business posted $2.12 EPS. Applied Materials’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $1.84 dividend on an annualized basis and a yield of 0.8%. Applied Materials’s payout ratio is presently 21.93%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMAT. DZ Bank cut shares of Applied Materials from a “hold” rating to a “sell” rating and set a $150.00 price target for the company. in a research report on Friday, August 15th. Barclays increased their price target on Applied Materials from $170.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. Mizuho lifted their price objective on Applied Materials from $175.00 to $215.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Citigroup cut their target price on Applied Materials from $220.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 15th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Applied Materials from $200.00 to $170.00 and set a “hold” rating for the company in a research report on Friday, August 15th. Eighteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $212.31.

Applied Materials Profile

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.