Avidian Wealth Enterprises LLC Has $445,000 Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Avidian Wealth Enterprises LLC boosted its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.0% in the fourth quarter, Holdings Channel reports. The firm owned 1,928 shares of the company’s stock after purchasing an additional 56 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Royal Caribbean Cruises were worth $445,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RCL. Plato Investment Management Ltd acquired a new position in Royal Caribbean Cruises during the third quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Royal Caribbean Cruises in the third quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after buying an additional 121 shares during the period. LRI Investments LLC acquired a new position in shares of Royal Caribbean Cruises in the third quarter valued at approximately $31,000. Finally, Bay Harbor Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

NYSE RCL opened at $260.37 on Friday. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The firm’s fifty day moving average price is $243.28 and its two-hundred day moving average price is $207.65. Royal Caribbean Cruises Ltd. has a 1 year low of $113.10 and a 1 year high of $277.08. The firm has a market capitalization of $70.01 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 1.00 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same quarter last year, the company earned $1.25 EPS. As a group, research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.96 EPS for the current year.

Royal Caribbean Cruises declared that its board has approved a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be issued a $0.75 dividend. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises’s payout ratio is currently 20.58%.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total value of $53,732,600.00. Following the transaction, the director now directly owns 18,556,860 shares in the company, valued at $4,335,253,633.20. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the transaction, the executive vice president now owns 22,348 shares in the company, valued at approximately $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 372,609 shares of company stock worth $87,647,208 over the last ninety days. Insiders own 7.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, January 24th. UBS Group upped their price target on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company upped their price target on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Argus upped their price target on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Sanford C. Bernstein started coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price objective on the stock. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $284.12.

Royal Caribbean Cruises Company Profile

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.