WR Wealth Planners LLC Decreases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

WR Wealth Planners LLC reduced its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 21.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 986 shares of the semiconductor manufacturer’s stock after selling 264 shares during the quarter. WR Wealth Planners LLC’s holdings in Broadcom were worth $229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Maripau Wealth Management LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at approximately $578,000. Bank OZK increased its position in Broadcom by 0.7% in the fourth quarter. Bank OZK now owns 8,302 shares of the semiconductor manufacturer’s stock worth $1,925,000 after buying an additional 59 shares during the period. Cobblestone Capital Advisors LLC NY increased its position in Broadcom by 2.6% in the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 5,362 shares of the semiconductor manufacturer’s stock worth $1,243,000 after buying an additional 137 shares during the period. Sage Investment Counsel LLC acquired a new position in shares of Broadcom during the fourth quarter valued at $230,000. Finally, SVB Wealth LLC acquired a new position in shares of Broadcom during the fourth quarter valued at $100,961,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AVGO shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Susquehanna increased their price target on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. TD Cowen raised their price objective on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Jefferies Financial Group raised their price objective on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Piper Sandler raised their price objective on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Trading Up 0.8 %

NASDAQ AVGO opened at $199.29 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company has a market cap of $934.16 billion, a price-to-earnings ratio of 162.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. The business’s fifty day moving average is $227.44 and its 200 day moving average is $192.11.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the company posted $0.98 EPS. The business’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.18%. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Insiders Place Their Bets

In other Broadcom news, Director Harry L. You sold 6,540 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Broadcom 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.