Employees Retirement System of Texas cut its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 13.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 516,800 shares of the manufacturing equipment provider’s stock after selling 81,200 shares during the period. Employees Retirement System of Texas’ holdings in Applied Materials were worth $21,349,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Bessemer Group Inc. increased its holdings in shares of Applied Materials by 145.4% during the 2nd quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock worth $126,000 after buying an additional 1,817 shares during the last quarter. Hanson McClain Inc. increased its holdings in Applied Materials by 4.3% in the 1st quarter. Hanson McClain Inc. now owns 3,360 shares of the manufacturing equipment provider’s stock valued at $131,000 after purchasing an additional 139 shares in the last quarter. First Interstate Bank increased its holdings in Applied Materials by 7.0% in the 1st quarter. First Interstate Bank now owns 3,528 shares of the manufacturing equipment provider’s stock valued at $137,000 after purchasing an additional 232 shares in the last quarter. TrimTabs Asset Management LLC increased its holdings in Applied Materials by 88.7% in the 1st quarter. TrimTabs Asset Management LLC now owns 3,556 shares of the manufacturing equipment provider’s stock valued at $138,000 after purchasing an additional 1,672 shares in the last quarter. Finally, D. Scott Neal Inc. acquired a new stake in Applied Materials in the 2nd quarter valued at $146,000. Institutional investors own 79.47% of the company’s stock.

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Applied Materials, Inc. (AMAT) traded up 2.90% on Friday, hitting $52.09. 21,008,733 shares of the stock were exchanged. The stock has a market capitalization of $55.55 billion, a P/E ratio of 18.52 and a beta of 1.81. The company has a 50 day moving average of $44.50 and a 200 day moving average of $42.82. Applied Materials, Inc. has a one year low of $27.56 and a one year high of $52.28.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. The firm’s revenue was up 32.7% on a year-over-year basis. On average, equities research analysts forecast that Applied Materials, Inc. will post $3.20 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, November 24th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.77%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 14.18%.

Several analysts recently issued reports on the company. KeyCorp reiterated a “buy” rating and issued a $59.00 price target on shares of Applied Materials in a report on Friday. Nomura upped 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 Friday. B. Riley reissued a “buy” rating and issued a $61.00 price objective on shares of Applied Materials in a research report on Wednesday, September 20th. Needham & Company LLC reissued a “buy” rating and issued a $54.00 price objective on shares of Applied Materials in a research report on Monday, September 25th. Finally, DA Davidson reissued a “buy” rating and issued a $55.00 price objective on shares of Applied Materials in a research report on Monday, September 25th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Applied Materials has a consensus rating of “Buy” and a consensus target price of $53.92.

In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of the company’s stock in a transaction on 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 the SEC website. Corporate 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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