First National Trust Co. Has $868,000 Stake in Applied Materials Inc. (AMAT)
First National Trust Co. lowered its position in shares of Applied Materials Inc. (NASDAQ:AMAT) by 10.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,191 shares of the manufacturing equipment provider’s stock after selling 4,315 shares during the period. First National Trust Co.’s holdings in Applied Materials were worth $868,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of AMAT. Legal & General Group Plc raised its stake in shares of Applied Materials by 2.4% in the first quarter. Legal & General Group Plc now owns 5,063,202 shares of the manufacturing equipment provider’s stock worth $107,236,000 after buying an additional 119,577 shares during the period. AXA raised its stake in shares of Applied Materials by 460.6% in the first quarter. AXA now owns 39,800 shares of the manufacturing equipment provider’s stock worth $843,000 after buying an additional 32,700 shares during the period. Pensionfund Sabic acquired a new stake in shares of Applied Materials during the second quarter worth $1,966,000. Diversified Trust Co acquired a new stake in shares of Applied Materials during the second quarter worth $954,000. Finally, Acadian Asset Management LLC raised its stake in shares of Applied Materials by 117.3% in the second quarter. Acadian Asset Management LLC now owns 34,382 shares of the manufacturing equipment provider’s stock worth $824,000 after buying an additional 18,559 shares during the period. Hedge funds and other institutional investors own 82.20% of the company’s stock.
Shares of Applied Materials Inc. (NASDAQ:AMAT) traded down 1.04% on Tuesday, hitting $29.61. The stock had a trading volume of 8,483,142 shares. The firm has a 50 day moving average price of $29.62 and a 200 day moving average price of $24.80. Applied Materials Inc. has a one year low of $15.07 and a one year high of $31.07. The company has a market capitalization of $32.01 billion, a P/E ratio of 23.35 and a beta of 1.84.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The business had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.84 billion. Applied Materials had a return on equity of 22.37% and a net margin of 14.62%. Applied Materials’s revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. On average, equities research analysts predict that Applied Materials Inc. will post $1.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 25th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Tuesday, November 22nd. Applied Materials’s payout ratio is currently 31.25%.
AMAT has been the subject of a number of recent analyst reports. Nomura restated a “buy” rating and set a $31.00 price objective on shares of Applied Materials in a research note on Thursday, September 22nd. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating and set a $33.00 target price on shares of Applied Materials in a report on Friday, September 23rd. Royal Bank Of Canada increased their target price on Applied Materials from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, August 19th. Cowen and Company increased their target price on Applied Materials from $26.00 to $32.50 and gave the stock an “outperform” rating in a report on Friday, August 19th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $36.00 target price on shares of Applied Materials in a report on Friday, September 16th. Six equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $30.72.
In other Applied Materials news, VP Omkaram Nalamasu sold 26,035 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $30.15, for a total transaction of $784,955.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Stephen R. Forrest sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $30.00, for a total value of $150,000.00. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.
Applied Materials Company Profile
Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.
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