Great West Life Assurance Co. Can increased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 42.5% during the second quarter, Holdings Channel reports. The fund owned 1,380,574 shares of the manufacturing equipment provider’s stock after buying an additional 411,801 shares during the period. Great West Life Assurance Co. Can’s holdings in Applied Materials were worth $56,958,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Eagle Global Advisors LLC increased its position in shares of Applied Materials by 16.7% in the second quarter. Eagle Global Advisors LLC now owns 6,776 shares of the manufacturing equipment provider’s stock valued at $280,000 after buying an additional 970 shares during the last quarter. Alpha Cubed Investments LLC increased its position in shares of Applied Materials by 6.5% in the second quarter. Alpha Cubed Investments LLC now owns 8,700 shares of the manufacturing equipment provider’s stock valued at $359,000 after buying an additional 531 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Applied Materials by 10.7% in the second quarter. Janney Montgomery Scott LLC now owns 97,272 shares of the manufacturing equipment provider’s stock valued at $4,018,000 after buying an additional 9,422 shares during the last quarter. Harbour Capital Advisors LLC increased its position in shares of Applied Materials by 2,899.2% in the second quarter. Harbour Capital Advisors LLC now owns 164,207 shares of the manufacturing equipment provider’s stock valued at $3,975,000 after buying an additional 158,732 shares during the last quarter. Finally, IBM Retirement Fund increased its position in shares of Applied Materials by 117.4% in the second quarter. IBM Retirement Fund now owns 26,431 shares of the manufacturing equipment provider’s stock valued at $1,221,000 after buying an additional 14,276 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Applied Materials, Inc. (NASDAQ AMAT) opened at 43.81 on Thursday. Applied Materials, Inc. has a 12 month low of $26.41 and a 12 month high of $47.86. The stock has a market capitalization of $47.08 billion, a PE ratio of 18.12 and a beta of 1.82. The firm has a 50-day moving average price of $44.31 and a 200 day moving average price of $40.89. Applied Materials also was the target of some unusual options trading on Wednesday. Investors acquired 2,307 call options on the company. This is an increase of 118% compared to the average volume of 1,060 call options.

Applied Materials (NASDAQ:AMAT) last issued 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 return on equity of 38.28% and a net margin of 20.41%. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The company’s revenue was up 44.7% compared to the same quarter last year. Equities analysts anticipate that Applied Materials, Inc. will post $3.11 earnings per share for the current year.

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

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Several brokerages have recently weighed in on AMAT. Vetr downgraded Applied Materials from a “strong-buy” rating to a “buy” rating and set a $48.70 price target for the company. in a report on Monday. BidaskClub downgraded Applied Materials from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Cowen and Company restated a “buy” rating and set a $50.00 price target on shares of Applied Materials in a report on Friday, July 28th. B. Riley restated a “buy” rating and set a $56.00 price target on shares of Applied Materials in a report on Sunday, July 16th. Finally, DA Davidson restated a “buy” rating and set a $55.00 price target on shares of Applied Materials in a report on Monday, July 10th. Four investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Applied Materials presently has a consensus rating of “Buy” and an average price target of $46.62.

Applied Materials Company Profile

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

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