Applied Materials, Inc. (AMAT) Holdings Reduced by Citizens Financial Group Inc RI

Citizens Financial Group Inc RI decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 37.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,577 shares of the manufacturing equipment provider’s stock after selling 1,561 shares during the period. Citizens Financial Group Inc RI’s holdings in Applied Materials were worth $107,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Applied Materials by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 73,362,409 shares of the manufacturing equipment provider’s stock valued at $2,853,797,000 after purchasing an additional 2,441,471 shares during the last quarter. BlackRock Inc. raised its position in Applied Materials by 2,063.7% during the 1st quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock valued at $2,606,676,000 after purchasing an additional 63,912,660 shares during the last quarter. FMR LLC raised its position in Applied Materials by 16.8% during the 1st quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock valued at $1,245,311,000 after purchasing an additional 4,604,275 shares during the last quarter. Egerton Capital UK LLP raised its position in Applied Materials by 18.0% during the 2nd quarter. Egerton Capital UK LLP now owns 13,734,934 shares of the manufacturing equipment provider’s stock valued at $567,390,000 after purchasing an additional 2,092,326 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Applied Materials by 32.9% during the 1st quarter. Ameriprise Financial Inc. now owns 12,887,690 shares of the manufacturing equipment provider’s stock valued at $501,248,000 after purchasing an additional 3,191,737 shares during the last quarter. 79.67% of the stock is owned by institutional investors and hedge funds.

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In other Applied Materials news, Director Alexander Karsner sold 22,762 shares of Applied Materials stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.31% of the stock is currently owned by insiders.

A number of research firms have weighed in on AMAT. B. Riley reiterated a “buy” rating and set a $56.00 target price on shares of Applied Materials in a report on Thursday, May 25th. UBS AG reiterated a “buy” rating and set a $52.00 target price on shares of Applied Materials in a report on Tuesday, June 13th. Vetr upgraded Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 target price on the stock in a report on Thursday, August 10th. Zacks Investment Research downgraded Applied Materials from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $61.00 target price (up previously from $55.00) on shares of Applied Materials in a report on Friday, August 18th. Four analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Applied Materials presently has a consensus rating of “Buy” and an average price target of $51.55.

Applied Materials, Inc. (NASDAQ AMAT) opened at 47.06 on Friday. The company has a market capitalization of $50.19 billion, a PE ratio of 16.73 and a beta of 1.81. Applied Materials, Inc. has a 12-month low of $27.56 and a 12-month high of $47.86. The stock’s 50 day moving average price is $44.27 and its 200 day moving average price is $42.49.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The business’s revenue for the quarter was up 32.7% on a year-over-year basis. On average, equities analysts anticipate that Applied Materials, Inc. will post $3.20 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, November 24th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.85%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s dividend payout ratio is currently 14.18%.

About Applied Materials

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

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