Prospera Financial Services Inc reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,032 shares of the manufacturing equipment provider’s stock after selling 251 shares during the period. Prospera Financial Services Inc’s holdings in Applied Materials were worth $332,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AMAT. Highland Capital Management LLC purchased a new position in shares of Applied Materials during the second quarter worth $984,000. Bedrijfstakpensioenfonds Voor DE Media PNO purchased a new position in shares of Applied Materials during the second quarter worth $2,413,000. Rehmann Capital Advisory Group raised its position in shares of Applied Materials by 28.9% in the second quarter. Rehmann Capital Advisory Group now owns 7,101 shares of the manufacturing equipment provider’s stock worth $293,000 after buying an additional 1,592 shares during the period. Aperio Group LLC raised its position in shares of Applied Materials by 12.6% in the second quarter. Aperio Group LLC now owns 507,868 shares of the manufacturing equipment provider’s stock worth $20,980,000 after buying an additional 56,742 shares during the period. Finally, Visionary Asset Management Inc. purchased a new position in shares of Applied Materials during the second quarter worth $343,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Applied Materials, Inc. (NASDAQ:AMAT) traded up 2.66% during midday trading on Monday, hitting $43.96. The company had a trading volume of 7,744,761 shares. Applied Materials, Inc. has a 52 week low of $25.86 and a 52 week high of $47.86. The firm has a market capitalization of $47.24 billion, a P/E ratio of 18.18 and a beta of 1.82. The firm’s 50 day moving average is $44.39 and its 200-day moving average is $40.57.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.03. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. The firm’s revenue was up 44.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 earnings per share. On average, equities research analysts expect that Applied Materials, Inc. will post $3.11 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.91%. Applied Materials’s dividend payout ratio is presently 16.46%.

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A number of equities analysts have recently weighed in on the company. Vetr upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $48.70 target price on the stock in a research note on Monday, July 24th. B. Riley reiterated a “buy” rating and set a $56.00 target price on shares of Applied Materials in a research note on Sunday, July 16th. Cowen and Company reiterated a “buy” rating and set a $50.00 target price on shares of Applied Materials in a research note on Friday, July 28th. Bank of America Corporation reiterated a “buy” rating and set a $54.00 target price (up previously from $45.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Finally, Susquehanna Bancshares Inc restated a “neutral” rating and set a $40.00 price objective (up previously from $35.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Four equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $46.62.

About Applied Materials

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

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