Hartford Financial Management Inc. cut its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 29,606 shares of the manufacturing equipment provider’s stock after selling 500 shares during the period. Hartford Financial Management Inc.’s holdings in Applied Materials were worth $1,223,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of AMAT. Regentatlantic Capital LLC increased its stake in shares of Applied Materials by 0.3% in the first quarter. Regentatlantic Capital LLC now owns 18,738 shares of the manufacturing equipment provider’s stock worth $729,000 after buying an additional 58 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of Applied Materials by 2.5% in the first quarter. Capstone Asset Management Co. now owns 140,121 shares of the manufacturing equipment provider’s stock worth $5,451,000 after buying an additional 3,427 shares during the last quarter. ELM Advisors LLC purchased a new position in shares of Applied Materials during the first quarter worth approximately $224,000. Inverness Counsel LLC NY boosted its position in shares of Applied Materials by 37.7% in the first quarter. Inverness Counsel LLC NY now owns 332,570 shares of the manufacturing equipment provider’s stock worth $12,561,000 after buying an additional 91,100 shares during the last quarter. Finally, Atria Investments LLC boosted its position in shares of Applied Materials by 21.9% in the first quarter. Atria Investments LLC now owns 14,643 shares of the manufacturing equipment provider’s stock worth $570,000 after buying an additional 2,631 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Applied Materials, Inc. (NASDAQ AMAT) opened at 43.08 on Friday. Applied Materials, Inc. has a 52 week low of $27.00 and a 52 week high of $47.86. The firm has a market capitalization of $46.30 billion, a P/E ratio of 17.82 and a beta of 1.82. The stock has a 50 day moving average price of $44.26 and a 200 day moving average price of $40.97. Applied Materials also was the recipient of some unusual options trading activity on Wednesday. Stock investors bought 2,307 call options on the stock. This is an increase of 118% compared to the average daily volume of 1,060 call options.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.76 by $0.03. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.54 billion. Applied Materials had a net margin of 20.41% and a return on equity of 38.28%. The company’s quarterly revenue was up 44.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. Analysts forecast that Applied Materials, Inc. will post $3.11 EPS for the current year.

The business 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 0.93%. The ex-dividend date is Tuesday, August 22nd. Applied Materials’s payout ratio is currently 16.46%.

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A number of brokerages have recently commented on AMAT. Vetr upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $48.70 price target for the company in a research note on Monday, July 24th. B. Riley reiterated a “buy” rating and issued a $56.00 price target on shares of Applied Materials in a research note on Sunday, July 16th. Cowen and Company reiterated a “buy” rating and issued a $50.00 price target on shares of Applied Materials in a research note on Friday, July 28th. Bank of America Corporation reiterated a “buy” rating and issued a $54.00 price target (up from $45.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Finally, Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $40.00 price target (up from $35.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Four equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $46.60.

About Applied Materials

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

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