AE Wealth Management LLC Has $195.22 Million Stock Holdings in Broadcom Inc. $AVGO

AE Wealth Management LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 4.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 591,748 shares of the semiconductor manufacturer’s stock after buying an additional 25,755 shares during the period. Broadcom makes up about 1.2% of AE Wealth Management LLC’s holdings, making the stock its 12th biggest position. AE Wealth Management LLC’s holdings in Broadcom were worth $195,224,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new stake in Broadcom in the 2nd quarter worth approximately $18,579,549,000. Vanguard Group Inc. grew its holdings in shares of Broadcom by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after acquiring an additional 6,222,802 shares in the last quarter. Edgewood Management LLC acquired a new position in shares of Broadcom in the second quarter worth $1,571,438,000. Massachusetts Financial Services Co. MA increased its stake in shares of Broadcom by 115.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,017,340 shares of the semiconductor manufacturer’s stock worth $1,658,680,000 after acquiring an additional 3,224,739 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Broadcom by 8.4% during the second quarter. Invesco Ltd. now owns 38,449,630 shares of the semiconductor manufacturer’s stock worth $10,598,641,000 after acquiring an additional 2,978,768 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wolfe Research raised Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 target price on the stock in a research report on Friday, January 30th. TD Cowen reissued a “buy” rating on shares of Broadcom in a research note on Friday, December 12th. Rosenblatt Securities raised their price objective on shares of Broadcom from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Mizuho set a $480.00 target price on shares of Broadcom and gave the company an “outperform” rating in a research note on Friday, January 9th. Finally, UBS Group set a $475.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research note on Monday, December 15th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $437.28.

View Our Latest Analysis on Broadcom

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 1,928 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total value of $631,998.40. Following the sale, the insider owned 23,582 shares of the company’s stock, valued at $7,730,179.60. This trade represents a 7.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $347.12, for a total value of $10,413,600.00. Following the completion of the transaction, the insider directly owned 210,573 shares in the company, valued at approximately $73,094,099.76. This represents a 12.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 779,901 shares of company stock valued at $284,069,237. 2.00% of the stock is owned by corporate insiders.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

Broadcom Stock Down 3.3%

Shares of Broadcom stock opened at $320.33 on Wednesday. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. The stock has a 50 day moving average price of $353.53 and a two-hundred day moving average price of $338.61. The stock has a market capitalization of $1.52 trillion, a P/E ratio of 67.30, a PEG ratio of 1.10 and a beta of 1.21.

Broadcom (NASDAQ:AVGOGet Free Report) last issued its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. The business had revenue of $18.02 billion during the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. Broadcom’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.42 earnings per share. Equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, December 22nd. Broadcom’s dividend payout ratio is currently 54.62%.

Broadcom Company Profile

(Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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