Werba Rubin Papier Wealth Management Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Werba Rubin Papier Wealth Management raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,103.7% during the third quarter, HoldingsChannel reports. The firm owned 1,613 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,479 shares during the period. Werba Rubin Papier Wealth Management’s holdings in Broadcom were worth $278,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. CNB Bank boosted its position in Broadcom by 1,168.7% during the 3rd quarter. CNB Bank now owns 13,727 shares of the semiconductor manufacturer’s stock valued at $2,368,000 after acquiring an additional 12,645 shares in the last quarter. Cedrus LLC lifted its stake in shares of Broadcom by 1,206.2% during the 3rd quarter. Cedrus LLC now owns 2,521 shares of the semiconductor manufacturer’s stock worth $435,000 after purchasing an additional 2,328 shares during the last quarter. Means Investment CO. Inc. boosted its position in Broadcom by 1,198.9% during the third quarter. Means Investment CO. Inc. now owns 6,144 shares of the semiconductor manufacturer’s stock valued at $1,060,000 after purchasing an additional 5,671 shares in the last quarter. New Century Financial Group LLC grew its stake in Broadcom by 1,093.2% in the third quarter. New Century Financial Group LLC now owns 2,792 shares of the semiconductor manufacturer’s stock valued at $482,000 after purchasing an additional 2,558 shares during the last quarter. Finally, Resonant Capital Advisors LLC lifted its position in shares of Broadcom by 966.9% during the third quarter. Resonant Capital Advisors LLC now owns 31,229 shares of the semiconductor manufacturer’s stock valued at $5,387,000 after buying an additional 28,302 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $179.99 on Tuesday. The company has a market capitalization of $837.83 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company’s fifty day moving average price is $167.14 and its 200 day moving average price is $153.56. Broadcom Inc. has a 1 year low of $81.83 and a 1 year high of $186.42.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the company posted $0.95 EPS. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.18%. Broadcom’s payout ratio is 9.12%.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the sale, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 in the last three months. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AVGO shares. Truist Financial lifted their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Oppenheimer dropped their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. Morgan Stanley boosted their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Cantor Fitzgerald increased their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.54.

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.