New Mexico Educational Retirement Board reduced its position in Applied Materials, Inc. (NASDAQ:AMAT) by 8.8% during the second quarter, Holdings Channel reports. The institutional investor owned 99,886 shares of the manufacturing equipment provider’s stock after selling 9,600 shares during the period. New Mexico Educational Retirement Board’s holdings in Applied Materials were worth $4,426,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Capital Investment Advisors LLC boosted its position in Applied Materials by 15.5% in the first quarter. Capital Investment Advisors LLC now owns 7,030 shares of the manufacturing equipment provider’s stock valued at $273,000 after buying an additional 941 shares during the period. Telemus Capital LLC acquired a new position in Applied Materials during the first quarter valued at approximately $433,000. Vicus Capital acquired a new position in Applied Materials during the first quarter valued at approximately $221,000. Reliance Trust Co. of Delaware boosted its position in Applied Materials by 53.3% in the first quarter. Reliance Trust Co. of Delaware now owns 23,335 shares of the manufacturing equipment provider’s stock valued at $907,000 after buying an additional 8,116 shares during the period. Finally, Reilly Financial Advisors LLC boosted 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 valued at $105,000 after buying an additional 1,180 shares during the period. Hedge funds and other institutional investors own 79.33% of the company’s stock.

Shares of Applied Materials, Inc. (NASDAQ AMAT) opened at 43.78 on Tuesday. The firm has a 50-day moving average price of $44.25 and a 200 day moving average price of $41.14. Applied Materials, Inc. has a 12 month low of $26.86 and a 12 month high of $47.86. The firm has a market capitalization of $47.05 billion, a price-to-earnings ratio of 18.11 and a beta of 1.82.

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 the Thomson Reuters’ consensus estimate of $0.76 by $0.03. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.54 billion. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. Applied Materials’s revenue was up 44.7% on a year-over-year basis. During the same quarter last year, the company earned $0.34 EPS. On average, analysts anticipate that Applied Materials, Inc. will post $3.11 EPS for the current fiscal year.

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

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AMAT has been the subject of several research analyst reports. Vetr upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $48.70 target price for the company in a research note on Monday, July 31st. DA Davidson reiterated a “buy” rating and set a $55.00 target price on shares of Applied Materials in a research note on Monday, July 10th. Stifel Nicolaus increased their target price on Applied Materials from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Citigroup Inc. reiterated a “buy” rating and set a $50.00 target price on shares of Applied Materials in a research note on Wednesday, May 17th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $48.00 target price (up from $45.00) on shares of Applied Materials in a research note on Friday, May 19th. 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. The company 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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