Hancock Whitney Corp reduced its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 0.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 119,148 shares of the manufacturing equipment provider’s stock after selling 787 shares during the period. Applied Materials comprises 0.8% of Hancock Whitney Corp’s portfolio, making the stock its 27th biggest position. Hancock Whitney Corp’s holdings in Applied Materials were worth $24,074,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Swedbank AB purchased a new position in shares of Applied Materials during the first quarter worth approximately $773,611,000. Van ECK Associates Corp increased its holdings in Applied Materials by 29.8% during the 3rd quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock worth $1,327,707,000 after purchasing an additional 1,509,439 shares during the period. Assenagon Asset Management S.A. raised its position in Applied Materials by 262.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,390,501 shares of the manufacturing equipment provider’s stock valued at $280,951,000 after purchasing an additional 1,006,937 shares in the last quarter. EdgePoint Investment Group Inc. purchased a new stake in shares of Applied Materials in the 1st quarter worth $162,873,000. Finally, International Assets Investment Management LLC grew its position in shares of Applied Materials by 18,449.2% during the 3rd quarter. International Assets Investment Management LLC now owns 643,102 shares of the manufacturing equipment provider’s stock worth $1,299,390,000 after buying an additional 639,635 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently weighed in on AMAT shares. Evercore ISI decreased their price objective on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Needham & Company LLC reduced their price target on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, November 15th. Mizuho lowered their price target on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. JPMorgan Chase & Co. lifted their price objective on shares of Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, Morgan Stanley reduced their price objective on shares of Applied Materials from $185.00 to $179.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $222.05.
Applied Materials Stock Performance
Shares of Applied Materials stock opened at $175.99 on Monday. The company has a 50 day moving average price of $189.83 and a 200 day moving average price of $205.71. The firm has a market capitalization of $145.09 billion, a P/E ratio of 20.31, a PEG ratio of 1.64 and a beta of 1.56. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 52 week low of $144.57 and a 52 week high of $255.89.
Applied Materials (NASDAQ:AMAT – Get Free Report) last posted its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The business had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $2.12 earnings per share. Sell-side analysts expect that Applied Materials, Inc. will post 9.5 EPS for the current year.
Applied Materials Announces Dividend
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 paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a yield of 0.91%. Applied Materials’s payout ratio is presently 18.58%.
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.
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