2,994 Shares in Applied Materials, Inc. (NASDAQ:AMAT) Purchased by Drucker Wealth 3.0 LLC

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Applied Materials in the fourth quarter worth $1,588,422,000. Northern Trust Corp increased its holdings in shares of Applied Materials by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,230,464 shares of the manufacturing equipment provider's stock valued at $1,663,780,000 after acquiring an additional 1,602,645 shares in the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of Applied Materials by 301.6% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,959,997 shares of the manufacturing equipment provider's stock worth $318,754,000 after purchasing an additional 1,471,953 shares during the last quarter. Two Sigma Investments LP boosted its stake in Applied Materials by 10,767.6% in the 4th quarter. Two Sigma Investments LP now owns 1,347,580 shares of the manufacturing equipment provider's stock worth $219,157,000 after purchasing an additional 1,335,180 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Applied Materials during the 4th quarter valued at about $182,962,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Applied Materials

In related news, CEO Gary E. Dickerson purchased 50,000 shares of the firm's stock in a transaction on Thursday, April 3rd. The shares were acquired at an average price of $137.30 per share, for a total transaction of $6,865,000.00. Following the purchase, the chief executive officer now directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Adam Sanders sold 450 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total value of $65,173.50. Following the transaction, the chief accounting officer now owns 6,077 shares of the company's stock, 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. Corporate insiders own 0.24% of the company's stock.

Applied Materials Stock Performance

Applied Materials stock traded up $4.32 during midday trading on Tuesday, hitting $161.83. The stock had a trading volume of 8,465,092 shares, compared to its average volume of 6,903,186. Applied Materials, Inc. has a 52-week low of $123.74 and a 52-week high of $255.89. The company has a market capitalization of $131.48 billion, a PE ratio of 21.15, a P/E/G ratio of 1.81 and a beta of 1.71. The firm's fifty day moving average is $150.21 and its two-hundred day moving average is $164.15. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29.

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

Applied Materials declared that its board has approved a share repurchase plan on Monday, March 10th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.14%. This is an increase from Applied Materials's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. Applied Materials's payout ratio is presently 22.38%.

Analyst Upgrades and Downgrades

AMAT has been the topic of several analyst reports. B. Riley dropped their target price on shares of Applied Materials from $250.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Morgan Stanley decreased their price objective on shares of Applied Materials from $164.00 to $162.00 and set an "underweight" rating for the company in a report on Friday, May 16th. TD Cowen cut their target price on Applied Materials from $225.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Bank of America reduced their target price on Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Cantor Fitzgerald lowered their price target on Applied Materials from $220.00 to $200.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Applied Materials 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.