Drucker Wealth 3.0 LLC Takes Position in Applied Materials, Inc. (NASDAQ:AMAT)

Drucker Wealth 3.0 LLC purchased a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,994 shares of the manufacturing equipment provider's stock, valued at approximately $487,000.

A number of other hedge funds have also made changes to their positions in AMAT. FPC Investment Advisory Inc. acquired a new position in shares of Applied Materials in the fourth quarter valued at approximately $28,000. Crews Bank & Trust acquired a new stake in shares of Applied Materials during the fourth quarter worth $28,000. YANKCOM Partnership purchased a new stake in shares of Applied Materials in the fourth quarter valued at $32,000. Atala Financial Inc acquired a new position in shares of Applied Materials during the 4th quarter valued at about $45,000. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of Applied Materials in the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Applied Materials Price Performance

NASDAQ AMAT traded down $1.53 on Thursday, hitting $160.06. 3,566,453 shares of the company were exchanged, compared to its average volume of 6,895,479. The company has a market cap of $130.04 billion, a P/E ratio of 20.88, a P/E/G ratio of 1.81 and a beta of 1.71. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $150.55 and a two-hundred day moving average of $164.12. Applied Materials, Inc. has a 1-year low of $123.74 and a 1-year high of $255.89.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.08. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. The company had revenue of $7.10 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the previous year, the business earned $2.09 EPS. The firm's revenue was up 6.8% on a year-over-year basis. On average, equities analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials announced that its Board of Directors has authorized a stock repurchase program on Monday, March 10th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, May 22nd. This is a positive change from Applied Materials's previous quarterly dividend of $0.40. Applied Materials's dividend payout ratio (DPR) is currently 22.38%.

Insider Buying and Selling at Applied Materials

In other news, CEO Gary E. Dickerson bought 50,000 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were bought at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the acquisition, the chief executive officer now owns 1,716,058 shares in the company, valued at $235,614,763.40. This trade represents a 3.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Adam Sanders sold 450 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total transaction of $65,173.50. Following the transaction, the chief accounting officer now owns 6,077 shares in the company, valued at approximately $880,131.91. The trade was a 6.89% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on AMAT. Bank of America dropped their price target on shares of Applied Materials from $205.00 to $190.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. TD Cowen decreased their price objective on shares of Applied Materials from $225.00 to $220.00 and set a "buy" rating for the company in a report on Friday, May 16th. Barclays cut their target price on shares of Applied Materials from $190.00 to $160.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Edward Jones raised Applied Materials from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Finally, Citigroup upped their price objective on Applied Materials from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $199.48.

Applied Materials 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.