Private Advisor Group LLC increased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 17.1% during the first quarter, Holdings Channel reports. The firm owned 28,906 shares of the manufacturing equipment provider’s stock after buying an additional 4,216 shares during the period. Private Advisor Group LLC’s holdings in Applied Materials were worth $1,101,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. FNY Partners Fund LP purchased a new position in Applied Materials during the fourth quarter valued at $445,000. Farr Miller & Washington LLC DC purchased a new position in Applied Materials during the fourth quarter valued at $205,000. Raymond James Financial Services Advisors Inc. increased its position in Applied Materials by 146.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 116,195 shares of the manufacturing equipment provider’s stock valued at $3,750,000 after buying an additional 69,049 shares in the last quarter. Honkamp Krueger Financial Services Inc. ADV purchased a new position in Applied Materials during the fourth quarter valued at $711,000. Finally, Coldstream Capital Management Inc. increased its position in Applied Materials by 1.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 92,637 shares of the manufacturing equipment provider’s stock valued at $2,989,000 after buying an additional 1,413 shares in the last quarter. Hedge funds and other institutional investors own 80.44% of the company’s stock.

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

Applied Materials, Inc. (AMAT) opened at 43.11 on Friday. Applied Materials, Inc. has a one year low of $22.17 and a one year high of $47.86. The company has a 50-day moving average price of $44.11 and a 200-day moving average price of $37.81. The firm has a market capitalization of $46.33 billion, a P/E ratio of 17.83 and a beta of 1.81.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the firm earned $0.34 EPS. Applied Materials’s quarterly revenue was up 44.7% on a year-over-year basis. On average, equities research analysts anticipate that Applied Materials, Inc. will post $3.08 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be given a $0.10 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.40 annualized dividend and a dividend yield of 0.93%. Applied Materials’s payout ratio is 16.46%.

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AMAT has been the subject of several research reports. Stifel Nicolaus lifted their target price 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 issued a $48.00 target price (up from $45.00) on shares of Applied Materials in a research report on Friday, May 19th. Instinet reaffirmed a “buy” rating and issued a $47.00 target price (up from $40.00) on shares of Applied Materials in a research report on Sunday, May 21st. Argus reaffirmed a “buy” rating and issued a $43.00 target price (up from $34.00) on shares of Applied Materials in a research report on Wednesday, February 22nd. Finally, Needham & Company LLC lifted their target price on Applied Materials from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Sunday, May 21st. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $44.75.

About Applied Materials

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