A4 Wealth Advisors LLC Invests $1.12 Million in Broadcom Inc. $AVGO

A4 Wealth Advisors LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGOFree Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 3,392 shares of the semiconductor manufacturer’s stock, valued at approximately $1,119,000.

A number of other hedge funds have also recently bought and sold shares of AVGO. Arthur M. Cohen & Associates LLC lifted its position in shares of Broadcom by 0.6% during the third quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock worth $1,577,000 after purchasing an additional 30 shares during the last quarter. Jackson Hole Capital Partners LLC increased its holdings in Broadcom by 1.4% in the third quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock valued at $716,000 after buying an additional 30 shares during the last quarter. Private Wealth Partners LLC raised its stake in Broadcom by 0.7% during the third quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer’s stock valued at $1,410,000 after buying an additional 30 shares in the last quarter. McHugh Group LLC lifted its holdings in Broadcom by 0.4% during the 3rd quarter. McHugh Group LLC now owns 8,433 shares of the semiconductor manufacturer’s stock worth $2,782,000 after buying an additional 31 shares during the last quarter. Finally, Smith Thornton Advisors LLC grew its position in shares of Broadcom by 1.4% in the 3rd quarter. Smith Thornton Advisors LLC now owns 2,313 shares of the semiconductor manufacturer’s stock worth $763,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 130,000 shares of Broadcom stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $326.02, for a total transaction of $42,382,600.00. Following the transaction, the chief executive officer directly owned 595,638 shares in the company, valued at approximately $194,189,900.76. This trade represents a 17.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 38,281 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total value of $12,542,769.65. Following the completion of the sale, the insider directly owned 266,494 shares in the company, valued at $87,316,759.10. This represents a 12.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 779,901 shares of company stock valued at $284,069,237. Insiders own 2.00% of the company’s stock.

Broadcom Trading Up 7.1%

Shares of AVGO stock opened at $332.49 on Friday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61. The firm has a market capitalization of $1.58 trillion, a PE ratio of 69.85, a price-to-earnings-growth ratio of 1.00 and a beta of 1.21. The stock has a fifty day moving average of $348.59 and a two-hundred day moving average of $338.51. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71.

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, beating analysts’ consensus estimates of $1.87 by $0.08. The business had revenue of $18.02 billion for 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%. The company’s revenue was up 28.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.42 earnings per share. As a group, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio (DPR) is currently 54.62%.

Wall Street Analyst Weigh In

AVGO has been the topic of several research analyst reports. Royal Bank Of Canada assumed coverage on Broadcom in a research note on Wednesday, January 14th. They set a “sector perform” rating and a $370.00 price objective on the stock. Rosenblatt Securities raised their price target on shares of Broadcom from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Benchmark lifted their price target on shares of Broadcom from $385.00 to $485.00 and gave the company a “buy” rating in a report on Friday, December 12th. Evercore increased their price objective on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Finally, JPMorgan Chase & Co. lifted their target price on Broadcom from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $437.28.

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Broadcom 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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