BIP Wealth LLC Takes Position in Broadcom Inc. (NASDAQ:AVGO)

BIP Wealth LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 189 shares of the semiconductor manufacturer’s stock, valued at approximately $211,000.

Other hedge funds also recently made changes to their positions in the company. Pathway Financial Advisors LLC lifted its holdings in Broadcom by 11.1% during the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock worth $1,041,000 after purchasing an additional 93 shares during the last quarter. RMR Wealth Builders increased its stake in Broadcom by 6.5% during the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock worth $5,284,000 after acquiring an additional 388 shares during the period. Czech National Bank increased its stake in Broadcom by 46.1% during the 3rd quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock worth $59,909,000 after acquiring an additional 22,774 shares during the period. Alpha Omega Wealth Management LLC increased its stake in Broadcom by 66.6% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock worth $4,756,000 after acquiring an additional 1,704 shares during the period. Finally, CI Investments Inc. increased its stake in Broadcom by 89.4% during the 3rd quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock worth $114,221,000 after acquiring an additional 64,912 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Up 3.4 %

AVGO traded up $42.60 during midday trading on Thursday, hitting $1,299.42. 1,911,227 shares of the company were exchanged, compared to its average volume of 2,926,672. The firm has a market capitalization of $602.18 billion, a P/E ratio of 47.94, a P/E/G ratio of 2.55 and a beta of 1.25. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The firm’s 50 day moving average price is $1,304.15 and its 200-day moving average price is $1,129.53. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the business earned $9.83 EPS. As a group, equities analysts forecast that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is 77.84%.

Insider Activity

In related news, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of the transaction, the insider now directly owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 in the last ninety days. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. Benchmark restated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Mizuho raised their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. UBS Group lifted their price target on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, Barclays lifted their price target on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,285.41.

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.