Zurich Insurance Group Ltd FI lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 26.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,927 shares of the manufacturing equipment provider’s stock after selling 61,023 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Applied Materials were worth $7,803,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. IHT Wealth Management LLC lifted its holdings in shares of Applied Materials by 18.7% in the 1st quarter. IHT Wealth Management LLC now owns 6,121 shares of the manufacturing equipment provider’s stock worth $324,000 after acquiring an additional 965 shares during the last quarter. Blue Pool Management Ltd. raised its holdings in Applied Materials by 0.4% during the 1st quarter. Blue Pool Management Ltd. now owns 265,500 shares of the manufacturing equipment provider’s stock valued at $14,764,000 after buying an additional 1,000 shares during the last quarter. 180 Wealth Advisors LLC raised its holdings in Applied Materials by 8.5% during the 2nd quarter. 180 Wealth Advisors LLC now owns 12,761 shares of the manufacturing equipment provider’s stock valued at $589,000 after buying an additional 1,001 shares during the last quarter. Cadence Capital Management LLC raised its holdings in Applied Materials by 17.9% during the 2nd quarter. Cadence Capital Management LLC now owns 6,702 shares of the manufacturing equipment provider’s stock valued at $310,000 after buying an additional 1,018 shares during the last quarter. Finally, Cornerstone Advisors Inc. raised its holdings in Applied Materials by 25.2% during the 2nd quarter. Cornerstone Advisors Inc. now owns 5,152 shares of the manufacturing equipment provider’s stock valued at $238,000 after buying an additional 1,037 shares during the last quarter. 77.31% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ AMAT opened at $39.10 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.52 and a quick ratio of 1.67. Applied Materials, Inc. has a 12 month low of $37.39 and a 12 month high of $62.40. The firm has a market capitalization of $37.74 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 0.67 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 16th. The manufacturing equipment provider reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.03. Applied Materials had a net margin of 19.87% and a return on equity of 58.23%. The business had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same period in the prior year, the business earned $0.86 EPS. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. equities research analysts expect that Applied Materials, Inc. will post 4.45 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Friday, November 23rd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $0.80 annualized dividend and a yield of 2.05%. Applied Materials’s dividend payout ratio (DPR) is presently 24.62%.

AMAT has been the subject of a number of recent analyst reports. ValuEngine lowered shares of Applied Materials from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Royal Bank of Canada reiterated a “hold” rating and set a $50.00 price target on shares of Applied Materials in a report on Friday, August 17th. Susquehanna Bancshares lowered their price target on shares of Applied Materials from $73.00 to $65.00 and set a “positive” rating for the company in a report on Monday, July 9th. Needham & Company LLC lowered their price target on shares of Applied Materials from $72.00 to $68.00 and set a “strong-buy” rating for the company in a report on Monday, May 21st. Finally, Citigroup lowered their price target on shares of Applied Materials from $78.00 to $73.00 and set a “buy” rating for the company in a report on Friday, July 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $62.26.

About Applied Materials

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

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