Prime Capital Investment Advisors LLC boosted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 46,155 shares of the manufacturing equipment provider’s stock after buying an additional 620 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Applied Materials were worth $2,303,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMAT. Nuveen Asset Management LLC raised its position in Applied Materials by 2,914.1% during the second quarter. Nuveen Asset Management LLC now owns 11,359,951 shares of the manufacturing equipment provider’s stock worth $510,176,000 after acquiring an additional 10,983,055 shares in the last quarter. Invesco Ltd. raised its position in shares of Applied Materials by 72.2% in the second quarter. Invesco Ltd. now owns 25,611,081 shares of the manufacturing equipment provider’s stock valued at $1,150,193,000 after purchasing an additional 10,735,173 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Applied Materials by 34.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 28,351,337 shares of the manufacturing equipment provider’s stock valued at $1,273,259,000 after purchasing an additional 7,230,052 shares during the period. Generation Investment Management LLP bought a new position in shares of Applied Materials in the second quarter valued at about $204,994,000. Finally, AQR Capital Management LLC raised its position in shares of Applied Materials by 49.4% in the second quarter. AQR Capital Management LLC now owns 8,459,335 shares of the manufacturing equipment provider’s stock valued at $379,909,000 after purchasing an additional 2,797,005 shares during the period. 79.06% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ AMAT traded up $0.52 during trading hours on Monday, reaching $56.55. The company’s stock had a trading volume of 452,981 shares, compared to its average volume of 9,191,457. The firm has a fifty day simple moving average of $52.53 and a 200-day simple moving average of $46.93. The stock has a market cap of $51.62 billion, a P/E ratio of 12.71, a P/E/G ratio of 3.40 and a beta of 1.66. Applied Materials, Inc. has a 52 week low of $28.79 and a 52 week high of $57.29. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.65 and a quick ratio of 1.72.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.84 annualized dividend and a yield of 1.49%. Applied Materials’s payout ratio is 18.88%.
In other Applied Materials news, SVP Steve G. Ghanayem sold 25,727 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $52.12, for a total transaction of $1,340,891.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen R. Forrest sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $46.00, for a total transaction of $138,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,945 shares of company stock valued at $2,776,105. Company insiders own 0.44% of the company’s stock.
Several equities analysts have recently weighed in on AMAT shares. DZ Bank lowered shares of Applied Materials from a “hold” rating to a “sell” rating and set a $46.00 price objective on the stock. in a research report on Tuesday, October 29th. Needham & Company LLC increased their price objective on shares of Applied Materials from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Zacks Investment Research upgraded shares of Applied Materials from a “sell” rating to a “hold” rating and set a $60.00 price objective on the stock in a research note on Tuesday, October 29th. KeyCorp reduced their price objective on shares of Applied Materials from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Finally, Stifel Nicolaus set a $57.00 price objective on shares of Applied Materials and gave the stock a “buy” rating in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Applied Materials currently has a consensus rating of “Buy” and a consensus target price of $53.23.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.
Read More: Why is total return important?
Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMAT).
Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.