RWA Wealth Partners LLC Has $40.04 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

RWA Wealth Partners LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 335.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,871 shares of the semiconductor manufacturer’s stock after purchasing an additional 27,632 shares during the period. Broadcom accounts for about 0.6% of RWA Wealth Partners LLC’s portfolio, making the stock its 29th biggest holding. RWA Wealth Partners LLC’s holdings in Broadcom were worth $40,042,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. PSI Advisors LLC grew its position in shares of Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 10 shares during the last quarter. Macroview Investment Management LLC bought a new stake in shares of Broadcom in the 3rd quarter valued at about $29,000. BKM Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter valued at about $29,000. CKW Financial Group bought a new stake in shares of Broadcom in the 4th quarter valued at about $30,000. Finally, Rise Advisors LLC grew its position in shares of Broadcom by 33.3% in the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after buying an additional 10 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the sale, the insider now directly owns 41,974 shares in the company, valued at approximately $55,257,092.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Justine Page sold 110 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares in the company, valued at $55,257,092.04. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of analyst reports. Susquehanna upped their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Barclays raised their target price on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Oppenheimer reissued an “outperform” rating and issued a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Finally, Cantor Fitzgerald raised their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Stock Up 1.9 %

NASDAQ:AVGO traded up $22.64 during trading hours on Monday, hitting $1,227.35. 1,477,015 shares of the company traded hands, compared to its average volume of 2,948,245. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The firm’s 50-day simple moving average is $1,305.11 and its 200-day simple moving average is $1,122.97. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The company has a market cap of $568.78 billion, a PE ratio of 44.78, a PEG ratio of 2.46 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same period last year, the business earned $9.83 EPS. The business’s revenue was up 34.2% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Broadcom Profile

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.