Meiji Yasuda Asset Management Co Ltd. reduced its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 13.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,407 shares of the manufacturing equipment provider’s stock after selling 4,240 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Applied Materials were worth $1,132,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Applied Materials by 2,063.7% in the first quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock worth $2,606,676,000 after buying an additional 63,912,660 shares during the period. Egerton Capital UK LLP purchased a new position in Applied Materials during the first quarter worth approximately $452,897,000. FMR LLC raised its position in Applied Materials by 16.8% in the first quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock worth $1,245,311,000 after buying an additional 4,604,275 shares during the period. LSV Asset Management raised its position in Applied Materials by 151.5% in the first quarter. LSV Asset Management now owns 7,572,100 shares of the manufacturing equipment provider’s stock worth $294,554,000 after buying an additional 4,561,500 shares during the period. Finally, Swedbank purchased a new position in Applied Materials during the second quarter worth approximately $135,363,000. Institutional investors own 79.33% of the company’s stock.

Shares of Applied Materials, Inc. (NASDAQ:AMAT) opened at 43.31 on Friday. The company has a 50-day moving average of $44.65 and a 200 day moving average of $41.62. The company has a market cap of $46.39 billion, a PE ratio of 15.40 and a beta of 1.82. Applied Materials, Inc. has a 12-month low of $27.56 and a 12-month high of $47.86. Applied Materials also was the recipient of some unusual options trading activity on Wednesday. Investors purchased 2,307 call options on the company. This is an increase of 118% compared to the average volume of 1,060 call options.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. Applied Materials had a net margin of 24.71% and a return on equity of 43.83%. The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share. On average, equities research analysts expect that Applied Materials, Inc. will post $3.21 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.40 annualized dividend and a yield of 0.92%. Applied Materials’s dividend payout ratio (DPR) is presently 14.18%.

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A number of equities analysts have recently commented on AMAT shares. Deutsche Bank AG restated a “buy” rating and issued a $48.00 price objective (up from $45.00) on shares of Applied Materials in a research report on Friday, May 19th. Bank of America Corporation restated a “buy” rating and issued a $54.00 price objective (up from $45.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Stifel Nicolaus raised their price objective on shares of Applied Materials from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Sunday, May 21st. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $40.00 price objective (up from $35.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Finally, Vetr upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating and set a $46.48 price objective for the company in a research report on Thursday, June 29th. Four equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $51.44.

In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

About Applied Materials

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

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