Wealthcare Advisory Partners LLC Purchases 170 Shares of Broadcom Inc. (NASDAQ:AVGO)

Wealthcare Advisory Partners LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,460 shares of the semiconductor manufacturer’s stock after buying an additional 170 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Broadcom were worth $10,076,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. NCP Inc. boosted its holdings in shares of Broadcom by 615.4% in the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after buying an additional 400 shares during the period. ProVise Management Group LLC bought a new stake in Broadcom in the 2nd quarter valued at $318,000. AE Wealth Management LLC boosted its stake in Broadcom by 20.5% in the 2nd quarter. AE Wealth Management LLC now owns 4,681 shares of the semiconductor manufacturer’s stock worth $7,515,000 after purchasing an additional 797 shares during the period. Pacer Advisors Inc. increased its holdings in Broadcom by 1.4% during the 2nd quarter. Pacer Advisors Inc. now owns 69,557 shares of the semiconductor manufacturer’s stock worth $111,676,000 after purchasing an additional 931 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Broadcom by 9.8% in the 2nd quarter. Sei Investments Co. now owns 268,735 shares of the semiconductor manufacturer’s stock valued at $431,479,000 after purchasing an additional 23,949 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AVGO. Piper Sandler upped their price objective on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. TD Cowen upped their price target on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Susquehanna lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Benchmark restated a “buy” rating and set a $255.00 target price (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. Finally, Bank of America lifted their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $225.83.

Broadcom Stock Up 3.5 %

Shares of AVGO opened at $237.44 on Friday. The firm’s 50-day simple moving average is $202.01 and its 200 day simple moving average is $178.14. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a market cap of $1.11 trillion, a P/E ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. Broadcom Inc. has a 52 week low of $112.19 and a 52 week high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 earnings per share. On average, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is presently 192.50%.

Insider Activity at Broadcom

In other news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Broadcom Company 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.