20,683 Shares in Applied Materials, Inc. (NASDAQ:AMAT) Bought by Essential Planning LLC.

Essential Planning LLC. purchased a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 20,683 shares of the manufacturing equipment provider's stock, valued at approximately $3,364,000.

A number of other hedge funds have also modified their holdings of AMAT. FPC Investment Advisory Inc. acquired a new stake in Applied Materials in the fourth quarter valued at approximately $28,000. Crews Bank & Trust bought a new position in shares of Applied Materials during the 4th quarter valued at $28,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Applied Materials in the 3rd quarter valued at $37,000. YANKCOM Partnership bought a new stake in Applied Materials in the fourth quarter worth $32,000. Finally, Dunhill Financial LLC increased its position in Applied Materials by 61.4% during the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider's stock worth $43,000 after buying an additional 81 shares during the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Price Performance

NASDAQ:AMAT traded up $0.89 on Thursday, reaching $149.95. The stock had a trading volume of 5,700,387 shares, compared to its average volume of 5,870,523. The company has a market capitalization of $121.83 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. The stock has a fifty day moving average price of $172.82 and a 200-day moving average price of $179.64. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 1-year low of $145.37 and a 1-year high of $255.89.

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Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. Research analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

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

Applied Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.23%. This is a boost from Applied Materials's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials's payout ratio is currently 24.05%.

Insider Buying and Selling

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the transaction, the chief accounting officer now owns 6,479 shares of the company's stock, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AMAT has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price target on Applied Materials from $250.00 to $235.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Morgan Stanley restated an "underweight" rating and issued a $164.00 target price (down from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Mizuho lowered their price target on Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. Evercore ISI reduced their price objective on shares of Applied Materials from $260.00 to $250.00 and set an "outperform" rating for the company in a research note on Friday, November 15th. Finally, Citigroup upped their price objective on shares of Applied Materials from $194.00 to $202.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Applied Materials has a consensus rating of "Moderate Buy" and a consensus price target of $215.38.

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.