Principal Financial Group Inc. increased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 70.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,957,280 shares of the manufacturing equipment provider’s stock after buying an additional 1,220,407 shares during the period. Principal Financial Group Inc. owned 0.28% of Applied Materials worth $122,166,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in AMAT. Fisher Asset Management LLC acquired a new position in Applied Materials during the first quarter valued at $371,000. Oxford Asset Management acquired a new position in Applied Materials during the first quarter valued at $4,956,000. Karp Capital Management Corp acquired a new position in Applied Materials during the first quarter valued at $17,549,000. Outfitter Advisors LTD. raised its position in Applied Materials by 1.5% in the first quarter. Outfitter Advisors LTD. now owns 40,400 shares of the manufacturing equipment provider’s stock valued at $1,572,000 after buying an additional 600 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new position in Applied Materials during the first quarter valued at $113,715,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials, Inc. (NASDAQ AMAT) opened at 45.10 on Friday. Applied Materials, Inc. has a 12 month low of $27.56 and a 12 month high of $47.86. The company has a market cap of $48.10 billion, a price-to-earnings ratio of 16.03 and a beta of 1.81. The company’s 50-day moving average is $44.64 and its 200 day moving average is $41.95.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. Equities 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 paid a $0.10 dividend. 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 (DPR) is presently 14.18%.

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Several research firms have recently weighed in on AMAT. Zacks Investment Research lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Bank of America Corporation restated a “buy” rating and set a $65.00 price objective (up previously from $58.00) on shares of Applied Materials in a research report on Sunday, June 11th. Morgan Stanley restated an “overweight” rating and set a $52.00 price objective on shares of Applied Materials in a research report on Monday, August 14th. B. Riley restated a “buy” rating and set a $61.00 price objective on shares of Applied Materials in a research report on Saturday, August 19th. 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 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. Applied Materials has a consensus rating of “Buy” and a consensus price target 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 stock was sold at an average price of $44.03, for a total transaction of $1,002,210.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Applied Materials Company Profile

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

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