Hancock Whitney Corp Sells 30,833 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Hancock Whitney Corp cut its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 20.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,935 shares of the manufacturing equipment provider’s stock after selling 30,833 shares during the period. Applied Materials makes up about 1.0% of Hancock Whitney Corp’s portfolio, making the stock its 20th biggest holding. Hancock Whitney Corp’s holdings in Applied Materials were worth $28,304,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. First National Bank of Mount Dora Trust Investment Services purchased a new stake in shares of Applied Materials during the 1st quarter valued at about $1,764,000. GAMMA Investing LLC increased its stake in Applied Materials by 89.3% during the second quarter. GAMMA Investing LLC now owns 8,988 shares of the manufacturing equipment provider’s stock worth $2,121,000 after acquiring an additional 4,239 shares during the last quarter. International Assets Investment Management LLC raised its position in Applied Materials by 5.4% during the first quarter. International Assets Investment Management LLC now owns 3,350 shares of the manufacturing equipment provider’s stock valued at $699,000 after purchasing an additional 172 shares during the period. Calton & Associates Inc. bought a new stake in shares of Applied Materials in the 1st quarter valued at approximately $243,000. Finally, Avantax Advisory Services Inc. boosted its holdings in shares of Applied Materials by 17.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 23,949 shares of the manufacturing equipment provider’s stock worth $4,939,000 after purchasing an additional 3,529 shares during the period. 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 the company. B. Riley decreased their price target on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a report on Friday, August 16th. Mizuho dropped 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 note on Friday. Morgan Stanley reduced their price objective on shares of Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company boosted their target price on Applied Materials from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Applied Materials currently has an average rating of “Moderate Buy” and an average target price of $231.05.

Applied Materials Stock Down 2.3 %

Shares of Applied Materials stock opened at $192.16 on Friday. The firm’s 50 day moving average price is $198.35 and its 200-day moving average price is $210.16. The company has a market cap of $159.10 billion, a P/E ratio of 22.09, a PEG ratio of 2.21 and a beta of 1.55. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 52-week low of $129.21 and a 52-week high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping 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 business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter last year, the company earned $1.90 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts predict that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Announces Dividend

The business 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 is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.83%. Applied Materials’s payout ratio is 18.39%.

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.