Huntington National Bank increased its stake in Applied Materials Inc. (NASDAQ:AMAT) by 303.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 429,025 shares of the manufacturing equipment provider’s stock after buying an additional 322,784 shares during the period. Huntington National Bank’s holdings in Applied Materials were worth $10,284,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Lazard Asset Management LLC increased its stake in Applied Materials by 0.8% in the first quarter. Lazard Asset Management LLC now owns 14,935,512 shares of the manufacturing equipment provider’s stock valued at $316,333,000 after buying an additional 124,092 shares during the last quarter. Geode Capital Management LLC increased its position in Applied Materials by 2.8% in the first quarter. Geode Capital Management LLC now owns 10,168,236 shares of the manufacturing equipment provider’s stock worth $214,965,000 after buying an additional 277,567 shares in the last quarter. Primecap Management Co. CA increased its position in Applied Materials by 0.7% in the first quarter. Primecap Management Co. CA now owns 6,128,155 shares of the manufacturing equipment provider’s stock worth $129,794,000 after buying an additional 45,400 shares in the last quarter. Legal & General Group Plc increased its position in Applied Materials by 2.4% in the first quarter. Legal & General Group Plc now owns 5,063,202 shares of the manufacturing equipment provider’s stock worth $107,236,000 after buying an additional 119,577 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Applied Materials by 28.1% in the first quarter. UBS Asset Management Americas Inc. now owns 4,233,589 shares of the manufacturing equipment provider’s stock worth $89,668,000 after buying an additional 929,289 shares in the last quarter. Institutional investors and hedge funds own 82.20% of the company’s stock.

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

Shares of Applied Materials Inc. (NASDAQ:AMAT) traded up 0.1592% during midday trading on Wednesday, hitting $28.6856. 9,448,760 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $29.81 and its 200-day moving average is $25.09. Applied Materials Inc. has a 1-year low of $15.07 and a 1-year high of $31.07. The stock has a market cap of $31.01 billion, a PE ratio of 22.6227 and a beta of 1.84.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business earned $2.82 billion during the quarter, compared to the consensus estimate of $2.84 billion. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 earnings per share. Analysts predict that Applied Materials Inc. will post $1.75 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 25th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.40%. Applied Materials’s dividend payout ratio (DPR) is presently 31.25%.

AMAT has been the subject of a number of research reports. Nomura restated a “buy” rating and set a $31.00 target price on shares of Applied Materials in a research report on Thursday, September 22nd. Goldman Sachs Group Inc. restated a “conviction-buy” rating and set a $33.00 target price on shares of Applied Materials in a research report on Friday, September 23rd. Royal Bank Of Canada boosted their target price on shares of Applied Materials from $28.00 to $30.00 and gave the company a “sector perform” rating in a research report on Friday, August 19th. RBC Capital Markets restated a “sector perform” rating on shares of Applied Materials in a research report on Friday, September 23rd. Finally, Cowen and Company boosted their target price on shares of Applied Materials from $26.00 to $32.50 and gave the company an “outperform” rating in a research report on Friday, August 19th. Six analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $31.20.

In related news, insider Gary E. Dickerson sold 229,935 shares of the firm’s stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $29.71, for a total value of $6,831,368.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Omkaram Nalamasu sold 99,491 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $30.15, for a total transaction of $2,999,653.65. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

About Applied Materials

Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.

5 Day Chart for NASDAQ:AMAT

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