Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Avion Wealth

Avion Wealth boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,484 shares of the semiconductor manufacturer’s stock after acquiring an additional 128 shares during the quarter. Avion Wealth’s holdings in Broadcom were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Castleview Partners LLC increased its stake in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 134 shares during the period. Pin Oak Investment Advisors Inc. boosted its holdings in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in Broadcom during the 4th quarter worth approximately $37,000. R Squared Ltd purchased a new position in shares of Broadcom during the 4th quarter worth approximately $39,000. Finally, JDM Financial Group LLC lifted its holdings in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AVGO. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Morgan Stanley reduced their price objective on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. TD Cowen boosted their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $225.04.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. This represents a 17.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last 90 days. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Down 1.2 %

Shares of NASDAQ:AVGO opened at $233.04 on Friday. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The stock’s 50-day moving average price is $226.16 and its two-hundred day moving average price is $187.02. The firm has a market cap of $1.09 trillion, a price-to-earnings ratio of 190.08, a PEG ratio of 2.42 and a beta of 1.02. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. On average, research analysts forecast 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 Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.01%. 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 dividend payout ratio is currently 192.50%.

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.