Applied Materials, Inc. (AMAT) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 70.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,957,280 shares of the manufacturing equipment provider’s stock after purchasing an additional 1,220,407 shares during the period. Principal Financial Group Inc. owned 0.28% of Applied Materials worth $122,166,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMAT. State of Alaska Department of Revenue bought a new position in shares of Applied Materials during the first quarter valued at about $114,000. Clean Yield Group bought a new position in shares of Applied Materials during the first quarter valued at about $124,000. Bessemer Group Inc. lifted its position in shares of Applied Materials by 145.4% during the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock valued at $126,000 after purchasing an additional 1,817 shares in the last quarter. Hanson McClain Inc. lifted its position in shares of Applied Materials by 4.3% during the first quarter. Hanson McClain Inc. now owns 3,360 shares of the manufacturing equipment provider’s stock valued at $131,000 after purchasing an additional 139 shares in the last quarter. Finally, First Interstate Bank lifted its position in shares of Applied Materials by 7.0% during the first quarter. First Interstate Bank now owns 3,528 shares of the manufacturing equipment provider’s stock valued at $137,000 after purchasing an additional 232 shares in the last quarter. 79.67% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This article was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another website, it was stolen and republished in violation of international copyright laws. The correct version of this article can be accessed at https://ledgergazette.com/2017/09/17/applied-materials-inc-amat-shares-bought-by-principal-financial-group-inc.html.

In other news, Director Alexander Karsner sold 22,762 shares of Applied Materials stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total transaction of $1,002,210.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

AMAT has been the topic of a number of recent analyst reports. Craig Hallum raised their price target on shares of Applied Materials to $60.00 and gave the company a “buy” rating in a research report on Friday, August 18th. Stifel Nicolaus raised their price target on shares of Applied Materials from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Sunday, May 21st. Deutsche Bank AG reissued a “buy” rating and set a $48.00 price target (up from $45.00) on shares of Applied Materials in a research report on Friday, May 19th. Instinet reaffirmed a “buy” rating and issued a $47.00 price objective (up previously from $40.00) on shares of Applied Materials in a research report on Sunday, May 21st. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Applied Materials in a research report on Tuesday, August 29th. Four analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Applied Materials has a consensus rating of “Buy” and a consensus price target of $51.55.

Applied Materials, Inc. (NASDAQ:AMAT) traded up 0.19% during trading on Friday, reaching $47.14. 13,880,440 shares of the company’s stock were exchanged. The company has a market cap of $50.27 billion, a P/E ratio of 16.76 and a beta of 1.81. The stock’s 50-day moving average is $44.31 and its 200-day moving average is $42.57. Applied Materials, Inc. has a 12-month low of $27.56 and a 12-month high of $47.86.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The firm’s revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS. Analysts predict that Applied Materials, Inc. will post $3.20 EPS for the current fiscal year.

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

Applied Materials Profile

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

Receive News & Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply