Eastern Bank maintained its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,842 shares of the manufacturing equipment provider’s stock at the end of the second quarter. Eastern Bank’s holdings in Applied Materials were worth $282,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in AMAT. Fisher Asset Management LLC bought a new position in shares of Applied Materials during the first quarter worth approximately $371,000. Capital Management Corp VA boosted its position in shares of Applied Materials by 1.8% in the first quarter. Capital Management Corp VA now owns 231,324 shares of the manufacturing equipment provider’s stock worth $8,998,000 after buying an additional 4,076 shares during the period. Oxford Asset Management acquired a new position in Applied Materials during the first quarter valued at about $4,956,000. Karp Capital Management Corp acquired a new position in Applied Materials during the first quarter valued at about $17,549,000. Finally, Outfitter Advisors LTD. boosted its position in Applied Materials by 1.5% in the first quarter. Outfitter Advisors LTD. now owns 40,400 shares of the manufacturing equipment provider’s stock valued at $1,572,000 after buying an additional 600 shares during the period. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Shares of Applied Materials, Inc. (NASDAQ AMAT) opened at 43.96 on Tuesday. The company has a market capitalization of $47.24 billion, a P/E ratio of 18.18 and a beta of 1.82. Applied Materials, Inc. has a 12-month low of $25.86 and a 12-month high of $47.86. The firm has a 50-day moving average price of $44.39 and a 200 day moving average price of $40.57.

Applied Materials (NASDAQ:AMAT) last announced 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 for the quarter, compared to the consensus estimate of $3.54 billion. During the same period last year, the business posted $0.34 EPS. The business’s revenue was up 44.7% compared to the same quarter last year. On average, equities research analysts predict that Applied Materials, Inc. will post $3.11 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.91%. Applied Materials’s dividend payout ratio is presently 16.46%.

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Several equities analysts have recently issued reports on AMAT shares. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $42.81 target price on the stock in a research note on Tuesday, April 11th. DA Davidson reissued a “buy” rating and set a $55.00 target price on shares of Applied Materials in a research note on Monday, July 10th. Stifel Nicolaus boosted their target price on Applied Materials from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Deutsche Bank AG reissued a “buy” rating and set a $48.00 target price (up from $45.00) on shares of Applied Materials in a research note on Friday, May 19th. Finally, Citigroup Inc. reissued a “buy” rating and set a $50.00 target price on shares of Applied Materials in a research note on Wednesday, May 17th. Four research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $46.62.

About Applied Materials

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

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