QRG Capital Management Inc. Has $76.76 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

QRG Capital Management Inc. increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 379,925 shares of the manufacturing equipment provider’s stock after purchasing an additional 758 shares during the quarter. Applied Materials accounts for about 0.8% of QRG Capital Management Inc.’s investment portfolio, making the stock its 17th largest holding. QRG Capital Management Inc.’s holdings in Applied Materials were worth $76,764,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. National Pension Service raised its holdings in Applied Materials by 13.1% during the 3rd quarter. National Pension Service now owns 2,006,828 shares of the manufacturing equipment provider’s stock worth $405,480,000 after purchasing an additional 232,317 shares during the last quarter. Cohen Capital Management Inc. raised its stake in shares of Applied Materials by 0.5% during the third quarter. Cohen Capital Management Inc. now owns 154,975 shares of the manufacturing equipment provider’s stock worth $31,313,000 after buying an additional 830 shares during the last quarter. Roman Butler Fullerton & Co. lifted its holdings in Applied Materials by 17.3% in the third quarter. Roman Butler Fullerton & Co. now owns 1,869 shares of the manufacturing equipment provider’s stock valued at $357,000 after buying an additional 275 shares during the period. Ground Swell Capital LLC boosted its stake in Applied Materials by 21.9% in the third quarter. Ground Swell Capital LLC now owns 2,369 shares of the manufacturing equipment provider’s stock valued at $479,000 after acquiring an additional 426 shares during the last quarter. Finally, Citizens National Bank Trust Department grew its holdings in Applied Materials by 1.1% during the 3rd quarter. Citizens National Bank Trust Department now owns 34,564 shares of the manufacturing equipment provider’s stock worth $6,984,000 after acquiring an additional 361 shares during the period. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Down 0.5 %

Applied Materials stock opened at $182.46 on Monday. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 1-year low of $139.21 and a 1-year high of $255.89. The company has a fifty day simple moving average of $191.65 and a 200 day simple moving average of $207.63. The company has a market cap of $150.42 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 2.48 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter last year, the company earned $1.90 EPS. Applied Materials’s revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts anticipate that Applied Materials, Inc. will post 8.51 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio is currently 17.98%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMAT. B. Riley cut their price target on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. UBS Group reduced their target price on Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Dbs Bank cut Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. Wells Fargo & Company reduced their price objective on shares of Applied Materials from $260.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, StockNews.com downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $229.14.

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.