Artemis Investment Management LLP increased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 16.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,142,340 shares of the manufacturing equipment provider’s stock after buying an additional 159,278 shares during the period. Applied Materials comprises about 1.1% of Artemis Investment Management LLP’s investment portfolio, making the stock its 25th largest position. Artemis Investment Management LLP owned approximately 0.11% of Applied Materials worth $47,184,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Dowling & Yahnke LLC increased its position in shares of Applied Materials by 1.9% in the first quarter. Dowling & Yahnke LLC now owns 50,242 shares of the manufacturing equipment provider’s stock valued at $1,954,000 after buying an additional 915 shares during the last quarter. WealthTrust Axiom LLC bought a new position in shares of Applied Materials during the first quarter valued at approximately $211,000. Welch & Forbes LLC increased its position in shares of Applied Materials by 6.9% in the first quarter. Welch & Forbes LLC now owns 6,843 shares of the manufacturing equipment provider’s stock valued at $266,000 after buying an additional 443 shares during the last quarter. KAMES CAPITAL plc bought a new position in shares of Applied Materials during the first quarter valued at approximately $1,293,000. Finally, Greenwich Wealth Management LLC increased its position in shares of Applied Materials by 0.8% in the first quarter. Greenwich Wealth Management LLC now owns 122,097 shares of the manufacturing equipment provider’s stock valued at $4,750,000 after buying an additional 937 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Applied Materials, Inc. (AMAT) opened at 45.12 on Friday. The firm’s 50-day moving average price is $44.65 and its 200-day moving average price is $41.88. Applied Materials, Inc. has a one year low of $27.56 and a one year high of $47.86. The company has a market capitalization of $48.12 billion, a price-to-earnings ratio of 16.04 and a beta of 1.82.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter last year, the firm earned $0.50 earnings per share. The business’s revenue for the quarter was up 32.7% on a year-over-year basis. Analysts anticipate that Applied Materials, Inc. will post $3.21 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Tuesday, August 22nd. Applied Materials’s dividend payout ratio is 14.18%.

WARNING: “Artemis Investment Management LLP Buys 159,278 Shares of Applied Materials, Inc. (AMAT)” was reported by Watch List News and is owned by of Watch List News. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/artemis-investment-management-llp-buys-159278-shares-of-applied-materials-inc-amat/1535911.html.

Several brokerages have commented on AMAT. Vetr raised Applied Materials from a “hold” rating to a “buy” rating and set a $48.70 target price on the stock in a report on Monday, July 24th. B. Riley reaffirmed a “buy” rating and set a $56.00 target price on shares of Applied Materials in a report on Sunday, July 16th. Cowen and Company reaffirmed a “buy” rating and set a $50.00 target price on shares of Applied Materials in a report on Friday, July 28th. Bank of America Corporation reaffirmed a “buy” rating and set a $54.00 target price (up from $45.00) on shares of Applied Materials in a report on Wednesday, May 17th. Finally, Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $40.00 target price (up from $35.00) on shares of Applied Materials in a report on Wednesday, May 17th. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Applied Materials presently has an average 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 firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were 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 is available at this link. 0.31% of the stock is currently owned by company insiders.

About Applied Materials

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

Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.