RMR Wealth Builders Buys 676 Shares of Broadcom Inc. (NASDAQ:AVGO)

RMR Wealth Builders boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,370 shares of the semiconductor manufacturer’s stock after acquiring an additional 676 shares during the period. Broadcom makes up approximately 1.7% of RMR Wealth Builders’ investment portfolio, making the stock its 13th largest holding. RMR Wealth Builders’ holdings in Broadcom were worth $16,315,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Central Pacific Bank Trust Division boosted its stake in shares of Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after buying an additional 3,707 shares during the last quarter. AXA S.A. grew its stake in Broadcom by 2.7% in the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after purchasing an additional 7,608 shares in the last quarter. Strait & Sound Wealth Management LLC increased its position in shares of Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after purchasing an additional 7,095 shares during the last quarter. Catalyst Financial Partners LLC raised its stake in shares of Broadcom by 943.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares in the last quarter. Finally, Whittier Trust Co. boosted its holdings in shares of Broadcom by 947.2% in the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after buying an additional 623,983 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AVGO has been the topic of several analyst reports. Mizuho upped their price target on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday. Bank of America raised their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Jefferies Financial Group lifted their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $223.54.

Broadcom Price Performance

Shares of AVGO traded down $5.00 during trading hours on Friday, reaching $224.31. The stock had a trading volume of 23,825,081 shares, compared to its average volume of 26,472,836. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 12 month low of $107.45 and a 12 month high of $251.88. The stock has a market capitalization of $1.05 trillion, a PE ratio of 194.88, a PEG ratio of 2.15 and a beta of 1.03. The company’s 50-day moving average is $195.79 and its two-hundred day moving average is $175.31.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. Research analysts expect that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Insider Transactions at Broadcom

In related news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 187,278 shares of company stock worth $44,046,240. Company insiders own 2.00% of the company’s stock.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.