Prudential Financial Inc. boosted its position in Applied Materials Inc. (NASDAQ:AMAT) by 242.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,346,423 shares of the manufacturing equipment provider’s stock after buying an additional 3,784,398 shares during the period. Prudential Financial Inc. owned about 0.49% of Applied Materials worth $161,195,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global X Management Co. LLC raised its stake in shares of Applied Materials by 8,148.7% in the third quarter. Global X Management Co. LLC now owns 12,868 shares of the manufacturing equipment provider’s stock worth $388,000 after buying an additional 12,712 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in shares of Applied Materials by 143.9% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 16,185 shares of the manufacturing equipment provider’s stock worth $488,000 after buying an additional 9,549 shares during the period. M&T Bank Corp raised its stake in shares of Applied Materials by 6.5% in the third quarter. M&T Bank Corp now owns 399,370 shares of the manufacturing equipment provider’s stock worth $12,041,000 after buying an additional 24,495 shares during the period. Delta Lloyd NV raised its stake in shares of Applied Materials by 16.5% in the third quarter. Delta Lloyd NV now owns 84,446 shares of the manufacturing equipment provider’s stock worth $2,546,000 after buying an additional 11,942 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Applied Materials by 867.6% in the third quarter. PNC Financial Services Group Inc. now owns 3,436,582 shares of the manufacturing equipment provider’s stock worth $103,611,000 after buying an additional 3,081,415 shares during the period. 80.36% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Applied Materials Inc. (NASDAQ:AMAT) opened at 31.84 on Tuesday. Applied Materials Inc. has a 52-week low of $15.44 and a 52-week high of $32.16. The stock has a 50 day moving average price of $29.28 and a 200 day moving average price of $27.16. The company has a market capitalization of $34.42 billion, a PE ratio of 20.68 and a beta of 1.86.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, November 17th. The manufacturing equipment provider reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. Applied Materials had a return on equity of 28.09% and a net margin of 15.90%. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter last year, the firm earned $0.29 EPS. Applied Materials’s revenue for the quarter was up 39.2% compared to the same quarter last year. On average, analysts predict that Applied Materials Inc. will post $2.35 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Tuesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is 25.64%.

TRADEMARK VIOLATION NOTICE: This story was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another website, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this story can be viewed at https://www.thecerbatgem.com/2016/11/29/prudential-financial-inc-purchases-3784398-shares-of-applied-materials-inc-amat.html.

AMAT has been the subject of several recent research reports. B. Riley boosted their target price on shares of Applied Materials from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 11th. S&P Equity Research set a $31.00 target price on shares of Applied Materials and gave the company a “hold” rating in a research note on Sunday, August 21st. Bank of America Corp. set a $35.00 target price on shares of Applied Materials and gave the company a “buy” rating in a research note on Saturday, November 19th. DA Davidson reiterated a “buy” rating and set a $32.00 target price (up previously from $28.00) on shares of Applied Materials in a research note on Tuesday, August 16th. Finally, RBC Capital Markets reiterated a “sector perform” rating and set a $28.00 target price (up previously from $26.00) on shares of Applied Materials in a research note on Wednesday, August 17th. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Applied Materials presently has an average rating of “Buy” and an average target price of $31.95.

In other Applied Materials news, insider Gary E. Dickerson sold 229,935 shares of the business’s stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $29.71, for a total transaction of $6,831,368.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Omkaram Nalamasu sold 99,491 shares of the business’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 value of $2,999,653.65. The disclosure for this sale can be found here. Company 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

Receive News & Stock Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related stocks with our FREE daily email newsletter.