Dakota Wealth Management Raises Holdings in Broadcom Inc. $AVGO

Dakota Wealth Management increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 28.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,361 shares of the semiconductor manufacturer’s stock after purchasing an additional 32,473 shares during the period. Broadcom accounts for about 0.9% of Dakota Wealth Management’s holdings, making the stock its 18th biggest position. Dakota Wealth Management’s holdings in Broadcom were worth $51,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Baring Financial LLC raised its holdings in shares of Broadcom by 2.2% in the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock worth $470,000 after acquiring an additional 29 shares during the last quarter. Arthur M. Cohen & Associates LLC boosted its stake 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 valued at $1,577,000 after acquiring an additional 30 shares during the last quarter. Jackson Hole Capital Partners LLC boosted its stake in shares of Broadcom by 1.4% during the third quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock valued at $716,000 after acquiring an additional 30 shares during the last quarter. Private Wealth Partners LLC increased its position in Broadcom by 0.7% during the 3rd quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer’s stock worth $1,410,000 after purchasing an additional 30 shares in the last quarter. Finally, Planning Alternatives Ltd. ADV increased its position in Broadcom by 1.4% during the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock worth $715,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of Broadcom stock opened at $293.41 on Tuesday. The business’s fifty day moving average price is $325.83 and its 200 day moving average price is $344.28. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $1.39 trillion, a P/E ratio of 57.31, a PEG ratio of 0.64 and a beta of 1.22.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.03 by $0.02. The company had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm’s revenue was up 29.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.60 earnings per share. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, March 23rd. Broadcom’s dividend payout ratio is 50.78%.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 70,000 shares of Broadcom stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $347.30, for a total transaction of $24,311,000.00. Following the transaction, the chief executive officer directly owned 132,836 shares of the company’s stock, valued at $46,133,942.80. The trade was a 34.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 39,116 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the sale, the insider owned 74,626 shares of the company’s stock, valued at approximately $24,000,467.86. This represents a 34.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 403,049 shares of company stock valued at $133,459,315 in the last three months. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on AVGO. The Goldman Sachs Group restated a “buy” rating and issued a $450.00 target price on shares of Broadcom in a report on Monday, January 5th. Barclays reiterated an “overweight” rating and set a $500.00 price target (up from $450.00) on shares of Broadcom in a report on Friday, December 12th. TD Cowen reissued a “buy” rating on shares of Broadcom in a research report on Friday, December 12th. Truist Financial upped their price objective on shares of Broadcom from $510.00 to $545.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, Susquehanna restated a “positive” rating and set a $450.00 target price (up from $400.00) on shares of Broadcom in a research report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.30.

About Broadcom

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.