RWA Wealth Partners LLC Cuts Position in Broadcom Inc. $AVGO

RWA Wealth Partners LLC lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.5% in the first quarter, HoldingsChannel.com reports. The firm owned 251,764 shares of the semiconductor manufacturer’s stock after selling 6,360 shares during the quarter. RWA Wealth Partners LLC’s holdings in Broadcom were worth $42,153,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock worth $120,070,000 after purchasing an additional 18,845 shares during the last quarter. PARUS FINANCE UK Ltd boosted its stake in shares of Broadcom by 175.3% during the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer’s stock worth $16,840,000 after purchasing an additional 64,038 shares during the last quarter. Nebula Research & Development LLC boosted its stake in shares of Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock worth $3,642,000 after purchasing an additional 14,399 shares during the last quarter. Keener Financial Planning LLC boosted its stake in shares of Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer’s stock worth $149,000 after purchasing an additional 230 shares during the last quarter. Finally, Diversify Wealth Management LLC boosted its stake in shares of Broadcom by 5.6% during the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer’s stock worth $6,365,000 after purchasing an additional 2,016 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $250.00 to $325.00 and gave the stock an “overweight” rating in a research note on Friday, June 6th. KeyCorp raised their target price on shares of Broadcom from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Mizuho raised their target price on shares of Broadcom from $315.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, June 5th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $304.00 price target (up previously from $267.00) on shares of Broadcom in a report on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $295.96.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $306.34 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $317.35. The firm has a 50-day simple moving average of $278.27 and a 200 day simple moving average of $229.89. The company has a market cap of $1.44 trillion, a PE ratio of 114.73, a P/E/G ratio of 2.18 and a beta of 1.15.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter in the prior year, the firm earned $10.96 EPS. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is 88.39%.

Insiders Place Their Bets

In related news, Director Henry Samueli sold 473,898 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the sale, the director owned 38,188,575 shares of the company’s stock, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 3,000 shares of the stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the sale, the director directly owned 33,352 shares in the company, valued at approximately $8,842,615.76. This trade represents a 8.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is owned by company insiders.

About Broadcom

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.