Whalerock Point Partners LLC cut its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 11.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,465 shares of the manufacturing equipment provider’s stock after selling 700 shares during the period. Whalerock Point Partners LLC’s holdings in Applied Materials were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMAT. Vanguard Group Inc. raised its position in Applied Materials by 3.4% in the first quarter. Vanguard Group Inc. now owns 73,362,409 shares of the manufacturing equipment provider’s stock worth $2,853,797,000 after buying an additional 2,441,471 shares in the last quarter. BlackRock Inc. raised its position in Applied Materials by 2,063.7% in the first quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock worth $2,606,676,000 after buying an additional 63,912,660 shares in the last quarter. FMR LLC raised its position in Applied Materials by 16.8% in the first quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock worth $1,245,311,000 after buying an additional 4,604,275 shares in the last quarter. Egerton Capital UK LLP raised its position in Applied Materials by 18.0% in the second quarter. Egerton Capital UK LLP now owns 13,734,934 shares of the manufacturing equipment provider’s stock worth $567,390,000 after buying an additional 2,092,326 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Applied Materials by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 12,887,690 shares of the manufacturing equipment provider’s stock worth $501,248,000 after buying an additional 3,191,737 shares in the last quarter. Institutional investors own 79.05% of the company’s stock.

Shares of Applied Materials, Inc. (AMAT) opened at 45.47 on Thursday. The company’s 50-day moving average price is $44.65 and its 200 day moving average price is $41.62. The company has a market cap of $48.49 billion, a price-to-earnings ratio of 16.16 and a beta of 1.82. Applied Materials, Inc. has a 1-year low of $27.56 and a 1-year high of $47.86.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. On average, analysts predict that Applied Materials, Inc. will post $3.21 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be issued 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 yield of 0.88%. Applied Materials’s payout ratio is 14.18%.

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AMAT has been the subject of a number of research analyst reports. Craig Hallum increased their price target on Applied Materials to $60.00 and gave the company a “buy” rating in a research report on Friday, August 18th. Stifel Nicolaus increased their price target on Applied Materials from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Sunday, May 21st. Deutsche Bank AG reaffirmed a “buy” rating and set a $48.00 price target (up from $45.00) on shares of Applied Materials in a research report on Friday, May 19th. UBS AG reaffirmed a “buy” rating and set a $51.00 price target (up from $44.00) on shares of Applied Materials in a research report on Wednesday, May 17th. Finally, Instinet reaffirmed a “buy” rating and set a $47.00 price target (up from $40.00) on shares of Applied Materials in a research report on Sunday, May 21st. Four investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $51.44.

In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of Applied Materials stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is currently owned by insiders.

Applied Materials Company Profile

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

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