Applied Materials, Inc. (AMAT) Stake Increased by FUKOKU MUTUAL LIFE INSURANCE Co
FUKOKU MUTUAL LIFE INSURANCE Co increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 211.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,300 shares of the manufacturing equipment provider’s stock after buying an additional 26,000 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Applied Materials were worth $1,582,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its position in Applied Materials by 145.4% in the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock worth $126,000 after acquiring an additional 1,817 shares during the period. Hanson McClain Inc. increased its stake in Applied Materials by 4.3% during the first quarter. Hanson McClain Inc. now owns 3,360 shares of the manufacturing equipment provider’s stock worth $131,000 after acquiring an additional 139 shares during the last quarter. First Interstate Bank increased its stake in Applied Materials by 7.0% during the first quarter. First Interstate Bank now owns 3,528 shares of the manufacturing equipment provider’s stock worth $137,000 after acquiring an additional 232 shares during the last quarter. TrimTabs Asset Management LLC increased its stake in Applied Materials by 88.7% during the first quarter. TrimTabs Asset Management LLC now owns 3,556 shares of the manufacturing equipment provider’s stock worth $138,000 after acquiring an additional 1,672 shares during the last quarter. Finally, D. Scott Neal Inc. acquired a new stake in Applied Materials during the second quarter worth $146,000. 79.47% of the stock is currently owned by hedge funds and other institutional investors.
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Several equities analysts have recently commented on the company. Craig Hallum upped their price target on Applied Materials to $60.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Credit Suisse Group reiterated a “buy” rating and set a $62.00 price target on shares of Applied Materials in a report on Tuesday, September 26th. Stifel Nicolaus reissued a “buy” rating on shares of Applied Materials in a research report on Sunday. Royal Bank Of Canada restated a “sector perform” rating and issued a $48.00 price objective (up from $46.00) on shares of Applied Materials in a report on Sunday, August 20th. Finally, DA Davidson restated a “buy” rating and issued a $55.00 price objective on shares of Applied Materials in a report on Monday, July 10th. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $55.31.
In other news, Director Alexander Karsner sold 22,762 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total transaction of $1,002,210.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.
Applied Materials, Inc. (NASDAQ:AMAT) traded down 0.13% on Monday, hitting $52.02. The stock had a trading volume of 9,734,210 shares. The company’s 50-day moving average is $44.50 and its 200-day moving average is $42.82. Applied Materials, Inc. has a one year low of $27.56 and a one year high of $52.63. The stock has a market cap of $55.48 billion, a P/E ratio of 18.49 and a beta of 1.86.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (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 firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The firm’s quarterly revenue was up 32.7% on a year-over-year basis. On average, analysts anticipate that Applied Materials, Inc. will post $3.20 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, November 24th will be given a $0.10 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.76%. Applied Materials’s payout ratio is currently 14.18%.
About Applied Materials
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