Arrow Financial Corp decreased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 12.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,065 shares of the manufacturing equipment provider’s stock after selling 570 shares during the period. Arrow Financial Corp’s holdings in Applied Materials were worth $168,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Reilly Financial Advisors LLC increased its position in Applied Materials by 78.0% in the first quarter. Reilly Financial Advisors LLC now owns 2,692 shares of the manufacturing equipment provider’s stock worth $105,000 after buying an additional 1,180 shares during the period. Pinnacle Bank purchased a new position in Applied Materials during the first quarter worth $113,000. State of Alaska Department of Revenue purchased a new position in Applied Materials during the first quarter worth $114,000. James Investment Research Inc. increased its position in Applied Materials by 90.6% in the first quarter. James Investment Research Inc. now owns 3,050 shares of the manufacturing equipment provider’s stock worth $119,000 after buying an additional 1,450 shares during the period. Finally, Bessemer Group Inc. increased 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 buying an additional 1,817 shares during the period. 79.33% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials, Inc. (NASDAQ AMAT) opened at 43.78 on Tuesday. Applied Materials, Inc. has a 1-year low of $26.86 and a 1-year high of $47.86. The stock has a market cap of $47.05 billion, a P/E ratio of 18.11 and a beta of 1.82. The company has a 50-day moving average price of $44.25 and a 200 day moving average price of $41.14.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. Applied Materials had a net margin of 20.41% and a return on equity of 38.28%. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. The firm’s revenue was up 44.7% on a year-over-year basis. Equities analysts expect that Applied Materials, Inc. will post $3.11 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Tuesday, August 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 16.46%.

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A number of research analysts recently weighed in on the company. B. Riley reaffirmed a “buy” rating and set a $44.00 price target on shares of Applied Materials in a research note on Monday, May 15th. UBS AG reaffirmed a “buy” rating and set a $51.00 price target (up from $44.00) on shares of Applied Materials in a research note on Wednesday, May 17th. Zacks Investment Research downgraded Applied Materials from a “buy” rating to a “hold” rating in a research note on Monday. Cowen and Company reaffirmed a “buy” rating and set a $50.00 price target on shares of Applied Materials in a research note on Friday, July 28th. Finally, Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 price target on the stock in a research note on Thursday, August 10th. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Applied Materials currently has a consensus rating of “Buy” and an average price target of $46.60.

Applied Materials Company Profile

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

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