Meridian Wealth Management LLC bought a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,062 shares of the manufacturing equipment provider’s stock, valued at approximately $250,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Reilly Financial Advisors LLC increased its position in shares of Applied Materials by 78.0% in the first quarter. Reilly Financial Advisors LLC now owns 2,692 shares of the manufacturing equipment provider’s stock valued at $105,000 after buying an additional 1,180 shares during the period. Pinnacle Bank purchased a new position in shares of Applied Materials during the first quarter valued at $113,000. State of Alaska Department of Revenue purchased a new position in shares of Applied Materials during the first quarter valued at $114,000. James Investment Research Inc. increased its position in shares of Applied Materials by 90.6% in the first quarter. James Investment Research Inc. now owns 3,050 shares of the manufacturing equipment provider’s stock valued at $119,000 after buying an additional 1,450 shares during the period. Finally, Clean Yield Group purchased a new position in shares of Applied Materials during the first quarter valued at $124,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Applied Materials, Inc. (AMAT) traded up 2.581% during trading on Monday, hitting $43.925. 4,325,721 shares of the stock traded hands. The firm’s 50-day moving average is $44.40 and its 200 day moving average is $40.57. The stock has a market cap of $47.20 billion, a P/E ratio of 18.166 and a beta of 1.82. Applied Materials, Inc. has a 52 week low of $25.86 and a 52 week high of $47.86.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.03. Applied Materials had a return on equity of 38.28% and a net margin of 20.41%. The business 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 business posted $0.34 earnings per share. The firm’s revenue for the quarter was up 44.7% compared to the same quarter last year. Equities research analysts forecast that Applied Materials, Inc. will post $3.11 earnings per share for the current fiscal year.

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

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Several research analysts have recently weighed in on the stock. Bank of America Corporation restated a “buy” rating and issued a $65.00 target price (up from $58.00) on shares of Applied Materials in a research note on Sunday, June 11th. Vetr upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating and set a $46.48 target price for the company in a research note on Thursday, June 29th. BidaskClub downgraded shares of Applied Materials from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. B. Riley restated a “buy” rating and issued a $56.00 target price on shares of Applied Materials in a research note on Saturday, May 20th. Finally, Cowen and Company restated a “buy” rating and issued a $50.00 target price on shares of Applied Materials in a research note on Friday, July 28th. Four analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $46.62.

Applied Materials Company Profile

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

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