Hancock Holding Co. lowered its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 391,914 shares of the manufacturing equipment provider’s stock after selling 27,824 shares during the quarter. Applied Materials comprises approximately 0.7% of Hancock Holding Co.’s investment portfolio, making the stock its 10th biggest holding. Hancock Holding Co.’s holdings in Applied Materials were worth $16,190,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bessemer Group Inc. raised its holdings in shares of Applied Materials by 145.4% in the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock valued at $126,000 after purchasing an additional 1,817 shares during the last quarter. Hanson McClain Inc. raised its holdings in shares of Applied Materials by 4.3% in the first quarter. Hanson McClain Inc. now owns 3,360 shares of the manufacturing equipment provider’s stock valued at $131,000 after purchasing an additional 139 shares during the last quarter. First Interstate Bank raised its holdings in shares of Applied Materials by 7.0% in the first quarter. First Interstate Bank now owns 3,528 shares of the manufacturing equipment provider’s stock valued at $137,000 after purchasing an additional 232 shares during the last quarter. TrimTabs Asset Management LLC raised its holdings in shares of Applied Materials by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 3,556 shares of the manufacturing equipment provider’s stock valued at $138,000 after purchasing an additional 1,672 shares during the last quarter. Finally, D. Scott Neal Inc. acquired a new stake in shares of Applied Materials in the second quarter valued at approximately $146,000. 79.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Applied Materials, Inc. (NASDAQ:AMAT) traded up 1.31% during midday trading on Friday, hitting $47.77. 5,867,667 shares of the stock were exchanged. The stock’s 50-day moving average price is $44.50 and its 200-day moving average price is $42.82. The firm has a market capitalization of $50.95 billion, a price-to-earnings ratio of 16.98 and a beta of 1.81. Applied Materials, Inc. has a 1-year low of $27.56 and a 1-year high of $48.53.
Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the firm posted $0.50 EPS. The business’s revenue was up 32.7% compared to the same quarter last year. On average, analysts forecast that Applied Materials, Inc. will post $3.20 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Wednesday, November 22nd. Applied Materials’s dividend payout ratio is presently 14.18%.
A number of analysts have recently issued reports on the stock. B. Riley reiterated a “buy” rating and issued a $56.00 price objective on shares of Applied Materials in a report on Tuesday, July 11th. UBS AG reiterated a “buy” rating and issued a $52.00 price objective on shares of Applied Materials in a report on Tuesday, June 13th. Vetr upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $49.11 price objective on the stock in a report on Friday. KeyCorp reiterated an “outperform” rating and issued a $57.00 price objective on shares of Applied Materials in a report on Saturday, September 16th. Finally, Instinet reiterated a “buy” rating and issued a $50.00 price objective (up from $47.00) on shares of Applied Materials in a report on Monday, August 21st. Two equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $52.69.
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In other news, Director Alexander Karsner sold 22,762 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total transaction of $1,002,210.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.
Applied Materials Profile
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