Todd Asset Management LLC Sells 73,323 Shares of Applied Materials, Inc. (AMAT)
Todd Asset Management LLC decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 16.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 374,356 shares of the manufacturing equipment provider’s stock after selling 73,323 shares during the period. Todd Asset Management LLC’s holdings in Applied Materials were worth $15,465,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Horseman Capital Management Ltd acquired a new position in Applied Materials during the second quarter worth $1,652,000. Burney Co. acquired a new position in Applied Materials during the second quarter worth $839,000. Oppenheimer & Co. Inc. increased its position in Applied Materials by 8.4% in the second quarter. Oppenheimer & Co. Inc. now owns 80,731 shares of the manufacturing equipment provider’s stock worth $3,335,000 after buying an additional 6,265 shares in the last quarter. Providence First Trust Co acquired a new position in Applied Materials during the second quarter worth $943,000. Finally, Artemis Investment Management LLP increased its position in Applied Materials by 16.2% in the second quarter. Artemis Investment Management LLP now owns 1,142,340 shares of the manufacturing equipment provider’s stock worth $47,184,000 after buying an additional 159,278 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.
Shares of Applied Materials, Inc. (NASDAQ:AMAT) opened at 45.10 on Friday. The firm has a market capitalization of $48.10 billion, a price-to-earnings ratio of 16.03 and a beta of 1.81. The stock’s 50 day moving average is $44.64 and its 200 day moving average is $41.95. Applied Materials, Inc. has a 12 month low of $27.56 and a 12 month high of $47.86.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the firm earned $0.50 earnings per share. Applied Materials’s revenue for the quarter was up 32.7% compared to the same quarter last year. Equities research analysts forecast that Applied Materials, Inc. will post $3.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Tuesday, August 22nd. Applied Materials’s dividend payout ratio is 14.18%.
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A number of research analysts have recently weighed in on the stock. Credit Suisse Group restated a “buy” rating on shares of Applied Materials in a report on Tuesday. B. Riley restated a “buy” rating and set a $61.00 price target on shares of Applied Materials in a report on Thursday, August 24th. Susquehanna Bancshares Inc restated a “neutral” rating and set a $42.00 price target on shares of Applied Materials in a report on Monday, August 21st. Instinet restated a “buy” rating and set a $50.00 price target (up previously from $47.00) on shares of Applied Materials in a report on Monday, August 21st. Finally, Argus raised their price target on shares of Applied Materials from $44.30 to $52.00 and gave the company a “buy” rating in a report on Monday, August 21st. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $51.44.
In related news, Director Alexander Karsner sold 22,762 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total transaction of $1,002,210.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.31% of the stock is currently owned by company insiders.
Applied Materials Company Profile
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