Schwab Charles Investment Management Inc. increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 8.8% during the second quarter, Holdings Channel reports. The fund owned 4,108,012 shares of the manufacturing equipment provider’s stock after buying an additional 333,151 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Applied Materials were worth $169,702,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of AMAT. Wetherby Asset Management Inc. increased its position in shares of Applied Materials by 1.2% in the second quarter. Wetherby Asset Management Inc. now owns 17,697 shares of the manufacturing equipment provider’s stock worth $731,000 after buying an additional 215 shares during the last quarter. General American Investors Co. Inc. increased its position in shares of Applied Materials by 4.0% in the second quarter. General American Investors Co. Inc. now owns 260,000 shares of the manufacturing equipment provider’s stock worth $10,741,000 after buying an additional 10,000 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Applied Materials by 48.2% in the second quarter. Canada Pension Plan Investment Board now owns 2,732,141 shares of the manufacturing equipment provider’s stock worth $112,865,000 after buying an additional 888,500 shares during the last quarter. HL Financial Services LLC increased its position in shares of Applied Materials by 13.3% in the second quarter. HL Financial Services LLC now owns 18,092 shares of the manufacturing equipment provider’s stock worth $747,000 after buying an additional 2,123 shares during the last quarter. Finally, Barrett Asset Management LLC bought a new position in shares of Applied Materials during the second quarter worth approximately $186,000. Institutional investors own 79.33% of the company’s stock.

Applied Materials, Inc. (AMAT) opened at 43.88 on Wednesday. Applied Materials, Inc. has a 12-month low of $26.86 and a 12-month high of $47.86. The firm has a 50 day moving average price of $44.27 and a 200 day moving average price of $41.20. The company has a market cap of $47.15 billion, a PE ratio of 18.15 and a beta of 1.82.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analyst estimates of $3.54 billion. During the same period in the prior year, the business posted $0.34 earnings per share. Applied Materials’s revenue was up 44.7% compared to the same quarter last year. On average, analysts anticipate that Applied Materials, Inc. will post $3.11 earnings per share for the current fiscal year.

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

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A number of equities analysts have commented on the company. Morgan Stanley restated an “overweight” rating and issued a $52.00 target price on shares of Applied Materials in a research note on Monday. Zacks Investment Research cut Applied Materials from a “buy” rating to a “hold” rating in a report on Monday. B. Riley reaffirmed a “buy” rating and set a $56.00 price target on shares of Applied Materials in a report on Monday. 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 report on Thursday, August 10th. Finally, BidaskClub cut Applied Materials from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $46.60.

About Applied Materials

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

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