Applied Materials, Inc. (AMAT) Position Maintained by Westbourne Investment Advisors Inc.
Westbourne Investment Advisors Inc. continued to hold its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the second quarter, Holdings Channel reports. The firm owned 6,950 shares of the manufacturing equipment provider’s stock at the end of the second quarter. Westbourne Investment Advisors Inc.’s holdings in Applied Materials were worth $287,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of AMAT. Teachers Advisors LLC raised its stake in shares of Applied Materials by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 3,956,864 shares of the manufacturing equipment provider’s stock worth $127,688,000 after buying an additional 109,324 shares during the period. Fisher Asset Management LLC bought a new stake in shares of Applied Materials during the first quarter worth about $371,000. Capital Management Corp VA raised its stake in shares of Applied Materials by 1.8% in the first quarter. Capital Management Corp VA now owns 231,324 shares of the manufacturing equipment provider’s stock worth $8,998,000 after buying an additional 4,076 shares during the period. Oxford Asset Management bought a new stake in shares of Applied Materials during the first quarter worth about $4,956,000. Finally, Karp Capital Management Corp bought a new stake in shares of Applied Materials during the first quarter worth about $17,549,000. Institutional investors and hedge funds own 79.78% of the company’s stock.
Applied Materials, Inc. (NASDAQ AMAT) opened at 46.15 on Tuesday. The stock’s 50 day moving average is $44.46 and its 200 day moving average is $38.54. Applied Materials, Inc. has a one year low of $25.68 and a one year high of $47.86. The firm has a market cap of $49.59 billion, a P/E ratio of 19.09 and a beta of 1.81.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.03. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same period in the prior year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 44.7% compared to the same quarter last year. On average, equities research analysts expect that Applied Materials, Inc. will post $3.11 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, August 22nd. Applied Materials’s payout ratio is presently 16.46%.
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AMAT has been the subject of a number of research analyst reports. Vetr upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating and set a $42.81 price target for the company in a research note on Tuesday, April 11th. DA Davidson restated a “buy” rating and issued a $55.00 price target on shares of Applied Materials in a research note on Monday, July 10th. Stifel Nicolaus lifted their price target on shares of Applied Materials from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Citigroup Inc. restated a “buy” rating and issued a $50.00 price target on shares of Applied Materials in a research note on Wednesday, May 17th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $48.00 price target (up previously from $45.00) on shares of Applied Materials in a research note on Friday, May 19th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $46.56.
Applied Materials Company Profile
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