Applied Materials Inc. (AMAT) Stake Decreased by Sentry Investment Management LLC
Sentry Investment Management LLC cut its position in shares of Applied Materials Inc. (NASDAQ:AMAT) by 5.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,942 shares of the manufacturing equipment provider’s stock after selling 4,439 shares during the period. Sentry Investment Management LLC’s holdings in Applied Materials were worth $2,501,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of Applied Materials by 65.3% in the second quarter. FMR LLC now owns 32,620,245 shares of the manufacturing equipment provider’s stock valued at $781,907,000 after buying an additional 12,881,391 shares during the last quarter. Winslow Capital Management LLC purchased a new position in shares of Applied Materials during the second quarter valued at about $173,715,000. Emerald Acquisition Ltd. purchased a new position in shares of Applied Materials during the second quarter valued at about $113,508,000. Bank of Montreal Can boosted its position in shares of Applied Materials by 340.2% in the third quarter. Bank of Montreal Can now owns 4,651,215 shares of the manufacturing equipment provider’s stock valued at $140,233,000 after buying an additional 3,594,718 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. purchased a new position in shares of Applied Materials during the second quarter valued at about $74,805,000. Institutional investors own 80.36% of the company’s stock.
Applied Materials Inc. (NASDAQ:AMAT) traded up 1.01% on Tuesday, reaching $32.16. The company had a trading volume of 8,982,904 shares. The firm has a 50-day moving average of $29.28 and a 200-day moving average of $27.16. The stock has a market capitalization of $34.76 billion, a P/E ratio of 20.88 and a beta of 1.86. Applied Materials Inc. has a 12 month low of $15.44 and a 12 month high of $32.35.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, November 17th. The manufacturing equipment provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Applied Materials had a return on equity of 28.09% and a net margin of 15.90%. Applied Materials’s quarterly revenue was up 39.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 EPS. On average, equities research analysts expect that Applied Materials Inc. will post $2.35 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Tuesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 25.64%.
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AMAT has been the subject of several research analyst reports. Credit Suisse Group AG raised their price objective on Applied Materials from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 9th. Citigroup Inc. raised their target price on Applied Materials from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, August 19th. Morgan Stanley reaffirmed a “buy” rating and set a $25.00 target price on shares of Applied Materials in a report on Tuesday, August 16th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $33.00 target price on shares of Applied Materials in a report on Tuesday, October 4th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating on shares of Applied Materials in a report on Friday, September 23rd. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $31.95.
In other news, insider Gary E. Dickerson sold 229,935 shares of the firm’s stock in a transaction on Friday, October 7th. The stock was sold at an average price of $29.71, for a total transaction of $6,831,368.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Omkaram Nalamasu sold 99,491 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $30.15, for a total value of $2,999,653.65. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
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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