Kestra Advisory Services LLC Increases Position in Broadcom Inc. (NASDAQ:AVGO)

Kestra Advisory Services LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 27.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 346,591 shares of the semiconductor manufacturer’s stock after purchasing an additional 73,604 shares during the period. Kestra Advisory Services LLC’s holdings in Broadcom were worth $80,354,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of AVGO. Canton Hathaway LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $26,000. Bellevue Asset Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $33,000. Pin Oak Investment Advisors Inc. boosted its holdings in shares of 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 buying an additional 135 shares in the last quarter. Finally, Synergy Investment Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

NASDAQ:AVGO opened at $195.54 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $218.12 and a two-hundred day moving average price of $193.68. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company has a market capitalization of $919.42 billion, a P/E ratio of 159.50, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating 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 firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the firm posted $0.98 EPS. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.21%. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. TD Cowen increased their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. William Blair reiterated an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Barclays increased their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

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.