Gotham Asset Management LLC decreased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 22.4% during the first quarter, Holdings Channel reports. The institutional investor owned 1,125,818 shares of the manufacturing equipment provider’s stock after selling 324,652 shares during the period. Applied Materials makes up approximately 0.6% of Gotham Asset Management LLC’s holdings, making the stock its 21st largest position. Gotham Asset Management LLC’s holdings in Applied Materials were worth $43,794,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of AMAT. Vanguard Group Inc. raised its stake in shares of 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 valued at $2,853,797,000 after buying an additional 2,441,471 shares in the last quarter. BlackRock Inc. raised its stake in shares of 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 valued at $2,606,676,000 after buying an additional 63,912,660 shares in the last quarter. FMR LLC raised its stake in shares of Applied Materials by 16.8% in the first quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock valued at $1,245,311,000 after buying an additional 4,604,275 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of 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 valued at $501,248,000 after buying an additional 3,191,737 shares in the last quarter. Finally, Egerton Capital UK LLP bought a new stake in shares of Applied Materials during the first quarter valued at $452,897,000. 79.78% of the stock is currently owned by institutional investors and hedge funds.

Shares of Applied Materials, Inc. (AMAT) opened at 46.12 on Monday. Applied Materials, Inc. has a 52 week low of $25.68 and a 52 week high of $47.86. The company has a 50-day moving average price of $44.46 and a 200 day moving average price of $38.54. The stock has a market capitalization of $49.56 billion, a P/E ratio of 19.07 and a beta of 1.81.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share (EPS) 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 analysts’ expectations of $3.54 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. The company’s revenue was up 44.7% on a year-over-year basis. Analysts forecast that Applied Materials, Inc. will post $3.11 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.87%. Applied Materials’s payout ratio is 16.46%.

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Several equities research analysts have weighed in on the company. Bank of America Corporation reaffirmed a “buy” rating and issued a $65.00 target price (up from $58.00) on shares of Applied Materials in a research report on Sunday, June 11th. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $46.48 target price on the stock in a research report on Thursday, June 29th. B. Riley reaffirmed a “buy” rating and issued a $56.00 target price on shares of Applied Materials in a research report on Saturday, May 20th. UBS AG reaffirmed a “buy” rating and issued a $44.00 target price on shares of Applied Materials in a research report on Monday, March 20th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $35.00 target price on shares of Applied Materials in a research report on Tuesday, April 25th. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $46.56.

About Applied Materials

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

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