Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 20.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,022,935 shares of the manufacturing equipment provider's stock after purchasing an additional 176,427 shares during the period. Applied Materials comprises approximately 0.6% of Zurcher Kantonalbank Zurich Cantonalbank's portfolio, making the stock its 24th biggest holding. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.12% of Applied Materials worth $165,787,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Freedom LLC purchased a new stake in Applied Materials in the fourth quarter worth $25,000. Global Wealth Management Investment Advisory Inc. lifted its position in Applied Materials by 76.9% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider's stock valued at $32,000 after buying an additional 100 shares during the period. BluePath Capital Management LLC purchased a new position in Applied Materials during the third quarter valued at $39,000. Quarry LP purchased a new position in Applied Materials during the first quarter valued at $40,000. Finally, RVW Wealth LLC purchased a new position in Applied Materials during the third quarter valued at $41,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Wall Street Analyst Weigh In

AMAT has been the subject of several recent research reports. The Goldman Sachs Group raised their price objective on Applied Materials from $156.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, February 16th. Raymond James raised their price objective on Applied Materials from $180.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, February 16th. Barclays raised their price objective on Applied Materials from $120.00 to $140.00 and gave the company an "underweight" rating in a research report on Tuesday, January 16th. Needham & Company LLC raised their price objective on Applied Materials from $180.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, February 16th. Finally, Citigroup raised their price objective on Applied Materials from $170.00 to $211.00 and gave the company a "buy" rating in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $201.50.

Applied Materials Stock Performance

Shares of NASDAQ AMAT traded up $3.80 during midday trading on Tuesday, hitting $209.48. 3,748,179 shares of the company's stock traded hands, compared to its average volume of 6,197,840. Applied Materials, Inc. has a 1 year low of $109.00 and a 1 year high of $214.91. The stock has a market capitalization of $174.06 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 3.11 and a beta of 1.59. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.91 and a current ratio of 2.71. The firm has a fifty day moving average of $201.54 and a 200 day moving average of $168.85.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 EPS for the quarter, beating the consensus estimate of $1.90 by $0.23. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. The firm had revenue of $6.71 billion during the quarter, compared to analyst estimates of $6.48 billion. During the same quarter in the prior year, the firm earned $2.03 EPS. The business's revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts forecast that Applied Materials, Inc. will post 8.04 earnings per share for the current year.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.76%. This is a positive change from Applied Materials's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, May 22nd. Applied Materials's dividend payout ratio is currently 15.06%.

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.