Public Employees Retirement System of Ohio cut its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,175,537 shares of the manufacturing equipment provider’s stock after selling 7,604 shares during the period. Public Employees Retirement System of Ohio owned 0.11% of Applied Materials worth $45,728,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AMAT. Vanguard Group Inc. increased its stake in 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 during the period. BlackRock Inc. increased its stake in 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 during the period. FMR LLC increased its stake in 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 during the period. Ameriprise Financial Inc. increased its stake in 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 during the period. Finally, Egerton Capital UK LLP purchased a new stake in Applied Materials during the first quarter valued at about $452,897,000. 79.78% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials, Inc. (AMAT) opened at 46.81 on Friday. The stock has a market capitalization of $50.30 billion, a P/E ratio of 19.36 and a beta of 1.81. The company’s 50-day moving average is $44.47 and its 200-day moving average is $39.76. Applied Materials, Inc. has a 12 month low of $25.68 and a 12 month high of $47.86.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.76 by $0.03. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.54 billion. Applied Materials had a net margin of 20.41% and a return on equity of 38.28%. The business’s quarterly revenue was up 44.7% on a year-over-year basis. During the same period last year, the company posted $0.34 EPS. Equities analysts anticipate that Applied Materials, Inc. will post $3.11 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.40 annualized dividend and a yield of 0.85%. Applied Materials’s dividend payout ratio (DPR) is currently 16.46%.

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Several equities research analysts recently issued reports on AMAT shares. Deutsche Bank AG reaffirmed a “buy” rating and set a $48.00 price target (up previously from $45.00) on shares of Applied Materials in a research note on Friday, May 19th. Bank of America Corporation reissued a “buy” rating and set a $54.00 price objective (up from $45.00) on shares of Applied Materials in a report on Wednesday, May 17th. Royal Bank Of Canada reissued a “hold” rating and set a $35.00 price objective on shares of Applied Materials in a report on Tuesday, April 25th. Stifel Nicolaus raised their price objective on shares of Applied Materials from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Sunday, May 21st. Finally, Susquehanna Bancshares Inc reissued a “neutral” rating and set a $40.00 price objective (up from $35.00) on shares of Applied Materials in a report on Wednesday, May 17th. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $46.56.

About Applied Materials

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

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