Bank of Montreal Can Buys 891,494 Shares of Applied Materials, Inc. (AMAT)
Bank of Montreal Can lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 35.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,414,367 shares of the manufacturing equipment provider’s stock after acquiring an additional 891,494 shares during the quarter. Bank of Montreal Can’s holdings in Applied Materials were worth $131,966,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Financial Gravity Wealth Inc. purchased a new position in Applied Materials in the 1st quarter worth approximately $164,000. Blair William & Co. IL lifted its holdings in Applied Materials by 16.7% in the 1st quarter. Blair William & Co. IL now owns 56,143 shares of the manufacturing equipment provider’s stock worth $3,122,000 after purchasing an additional 8,035 shares in the last quarter. United Capital Financial Advisers LLC raised its holdings in shares of Applied Materials by 9.8% during the 1st quarter. United Capital Financial Advisers LLC now owns 62,463 shares of the manufacturing equipment provider’s stock worth $3,474,000 after acquiring an additional 5,563 shares in the last quarter. Element Capital Management LLC purchased a new stake in shares of Applied Materials during the 1st quarter worth approximately $397,000. Finally, Ancora Advisors LLC purchased a new stake in shares of Applied Materials during the 1st quarter worth approximately $2,149,000. Institutional investors own 77.21% of the company’s stock.
Several analysts have recently issued reports on AMAT shares. BidaskClub raised Applied Materials from a “hold” rating to a “buy” rating in a report on Monday, June 18th. Citigroup decreased their price objective on Applied Materials from $78.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, July 13th. B. Riley decreased their price objective on Applied Materials from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, August 17th. Deutsche Bank decreased their price objective on Applied Materials from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, August 17th. Finally, Stifel Nicolaus decreased their price objective on Applied Materials from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, August 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Applied Materials presently has an average rating of “Buy” and an average target price of $61.95.
Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.03. The firm had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.42 billion. Applied Materials had a return on equity of 58.23% and a net margin of 19.87%. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. On average, equities analysts expect that Applied Materials, Inc. will post 4.45 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Friday, November 23rd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Wednesday, November 21st. Applied Materials’s dividend payout ratio is currently 24.62%.
Applied Materials Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
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