Sentry Investment Management LLC decreased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 47.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,630 shares of the manufacturing equipment provider’s stock after selling 30,838 shares during the quarter. Sentry Investment Management LLC’s holdings in Applied Materials were worth $1,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the stock. Summit Financial Wealth Advisors LLC lifted its position in Applied Materials by 0.3% in the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 6,269 shares of the manufacturing equipment provider’s stock worth $259,000 after buying an additional 19 shares during the last quarter. Guardian Life Insurance Co. of America lifted its position in Applied Materials by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 4,170 shares of the manufacturing equipment provider’s stock worth $162,000 after buying an additional 29 shares during the last quarter. Adirondack Trust Co. lifted its position in Applied Materials by 1.1% in the 2nd quarter. Adirondack Trust Co. now owns 3,650 shares of the manufacturing equipment provider’s stock worth $151,000 after buying an additional 40 shares during the last quarter. Affinity Wealth Management lifted its position in Applied Materials by 0.8% in the 2nd quarter. Affinity Wealth Management now owns 6,387 shares of the manufacturing equipment provider’s stock worth $264,000 after buying an additional 48 shares during the last quarter. Finally, RMB Capital Management LLC lifted its position in Applied Materials by 1.0% in the 1st quarter. RMB Capital Management LLC now owns 6,280 shares of the manufacturing equipment provider’s stock worth $244,000 after buying an additional 60 shares during the last quarter. Institutional investors own 79.45% of the company’s stock.

AMAT has been the subject of a number of recent research reports. Credit Suisse Group restated a “buy” rating on shares of Applied Materials in a research report on Tuesday, August 29th. Vetr upgraded Applied Materials from a “buy” rating to a “strong-buy” rating and set a $46.48 target price for the company in a research report on Thursday, June 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 price target on shares of Applied Materials in a research note on Thursday, July 6th. Goldman Sachs Group, Inc. (The) raised Applied Materials from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $49.00 to $52.00 in a research note on Wednesday, September 13th. Finally, Royal Bank Of Canada raised Applied Materials from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $48.00 to $55.00 in a research note on Sunday, September 17th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Applied Materials has an average rating of “Buy” and an average price target of $56.64.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the business earned $0.50 EPS. Applied Materials’s revenue for the quarter was up 32.7% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.40 annualized dividend and a dividend yield of 0.73%. Applied Materials’s dividend payout ratio is presently 14.18%.

In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total transaction of $1,002,210.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas F. Larkins sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $51.24, for a total value of $1,537,200.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

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About Applied Materials

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

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