RMR Wealth Builders Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

RMR Wealth Builders grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.0% in the 4th quarter, HoldingsChannel reports. The firm owned 6,550 shares of the semiconductor manufacturer’s stock after acquiring an additional 188 shares during the quarter. Broadcom accounts for approximately 1.0% of RMR Wealth Builders’ investment portfolio, making the stock its 22nd biggest holding. RMR Wealth Builders’ holdings in Broadcom were worth $7,311,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BetterWealth LLC increased its stake in Broadcom by 1.5% during the fourth quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock worth $672,000 after acquiring an additional 9 shares during the last quarter. Sargent Investment Group LLC grew its stake in Broadcom by 1.6% in the fourth quarter. Sargent Investment Group LLC now owns 557 shares of the semiconductor manufacturer’s stock worth $622,000 after purchasing an additional 9 shares in the last quarter. Centric Wealth Management increased its stake in shares of Broadcom by 1.6% during the fourth quarter. Centric Wealth Management now owns 579 shares of the semiconductor manufacturer’s stock valued at $646,000 after buying an additional 9 shares during the period. Rise Advisors LLC increased its position in Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after purchasing an additional 10 shares during the period. Finally, CX Institutional raised its stake in Broadcom by 0.8% in the fourth quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock worth $1,439,000 after buying an additional 10 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Down 0.6 %

NASDAQ AVGO opened at $1,317.33 on Thursday. The company has a market cap of $610.48 billion, a P/E ratio of 49.12, a P/E/G ratio of 2.60 and a beta of 1.25. Broadcom Inc. has a 12 month low of $617.99 and a 12 month high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The company has a 50-day moving average of $1,308.82 and a 200-day moving average of $1,157.75.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same period last year, the business posted $9.83 EPS. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. As a group, equities analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, Director Justine Page sold 110 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the sale, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 over the last quarter. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Barclays increased their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Cantor Fitzgerald increased their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Evercore ISI initiated coverage on Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target for the company. Benchmark reiterated a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

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.