BetterWealth LLC Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

BetterWealth LLC grew its stake in Broadcom Inc. (NASDAQ:AVGOFree Report) by 1.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 602 shares of the semiconductor manufacturer’s stock after acquiring an additional 9 shares during the period. BetterWealth LLC’s holdings in Broadcom were worth $672,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. Rise Advisors LLC increased its holdings 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 purchasing an additional 10 shares in the last quarter. CX Institutional increased its holdings in shares of Broadcom by 0.8% in the 4th quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after purchasing an additional 10 shares in the last quarter. Cascade Investment Group Inc. increased its holdings in shares of Broadcom by 1.7% in the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock valued at $680,000 after purchasing an additional 10 shares in the last quarter. Greenwood Gearhart Inc. grew its stake in Broadcom by 2.0% in the 3rd quarter. Greenwood Gearhart Inc. now owns 549 shares of the semiconductor manufacturer’s stock valued at $456,000 after acquiring an additional 11 shares during the last quarter. Finally, WBH Advisory Inc. grew its stake in Broadcom by 3.0% in the 3rd quarter. WBH Advisory Inc. now owns 412 shares of the semiconductor manufacturer’s stock valued at $342,000 after acquiring an additional 12 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 2.2 %

Shares of NASDAQ:AVGO traded up $28.83 during midday trading on Wednesday, reaching $1,367.59. The company had a trading volume of 511,315 shares, compared to its average volume of 3,024,101. The stock has a market capitalization of $633.77 billion, a P/E ratio of 49.62, a PEG ratio of 2.85 and a beta of 1.25. The stock’s fifty day moving average price is $1,282.61 and its 200-day moving average price is $1,078.22. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17.

Broadcom (NASDAQ:AVGOGet Free Report) last released its quarterly earnings results 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 company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the prior year, the firm posted $9.83 EPS. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. Equities research analysts expect that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Analyst Ratings Changes

A number of brokerages recently commented on AVGO. Oppenheimer reissued an “outperform” rating and issued a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Summit Insights raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. Finally, Cantor Fitzgerald raised their target price 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 equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,230.18.

Read Our Latest Research Report on AVGO

Insider Buying and Selling at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the transaction, the chief financial officer now owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the transaction, the chief financial officer now owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold 22,310 shares of company stock valued at $29,405,117 in the last quarter. 2.00% of the stock is owned by insiders.

Broadcom Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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