Caisse DE Depot ET Placement DU Quebec Buys 396,233 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Caisse DE Depot ET Placement DU Quebec grew its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 31.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,661,347 shares of the manufacturing equipment provider’s stock after acquiring an additional 396,233 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Applied Materials were worth $335,675,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of AMAT. Abrams Bison Investments LLC raised its position in Applied Materials by 38.9% in the 3rd quarter. Abrams Bison Investments LLC now owns 750,000 shares of the manufacturing equipment provider’s stock worth $151,538,000 after purchasing an additional 210,000 shares during the last quarter. Atlantic Union Bankshares Corp increased its stake in shares of Applied Materials by 8.7% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 9,730 shares of the manufacturing equipment provider’s stock valued at $1,966,000 after buying an additional 778 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of Applied Materials by 2.0% during the third quarter. Rockefeller Capital Management L.P. now owns 658,407 shares of the manufacturing equipment provider’s stock worth $133,033,000 after acquiring an additional 13,168 shares during the last quarter. Centric Wealth Management lifted its stake in shares of Applied Materials by 3.1% during the third quarter. Centric Wealth Management now owns 19,113 shares of the manufacturing equipment provider’s stock valued at $3,584,000 after acquiring an additional 574 shares during the period. Finally, Martingale Asset Management L P boosted its holdings in Applied Materials by 1.3% in the third quarter. Martingale Asset Management L P now owns 57,229 shares of the manufacturing equipment provider’s stock valued at $11,563,000 after acquiring an additional 738 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Up 2.0 %

Shares of AMAT stock opened at $174.71 on Friday. Applied Materials, Inc. has a 12-month low of $144.57 and a 12-month high of $255.89. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. The firm has a fifty day moving average of $188.11 and a 200-day moving average of $204.54. The company has a market capitalization of $144.03 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 1.61 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.96 billion. During the same period in the prior year, the business earned $2.12 EPS. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities research analysts predict that Applied Materials, Inc. will post 9.5 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio is presently 18.58%.

Wall Street Analyst Weigh In

Several analysts have weighed in on AMAT shares. B. Riley dropped their price objective on Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a report on Friday, August 16th. Needham & Company LLC dropped their price target on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Citigroup reduced their price objective on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Susquehanna cut their price target on Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $221.48.

Applied Materials Company Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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.