Wealthcare Advisory Partners LLC Buys 244 Shares of Broadcom Inc. (NASDAQ:AVGO)

Wealthcare Advisory Partners LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 10.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,571 shares of the semiconductor manufacturer’s stock after purchasing an additional 244 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Broadcom were worth $2,870,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Spire Wealth Management boosted its stake in Broadcom by 1.7% in the 4th quarter. Spire Wealth Management now owns 5,178 shares of the semiconductor manufacturer’s stock valued at $6,272,000 after buying an additional 88 shares in the last quarter. Clifford Swan Investment Counsel LLC boosted its stake in Broadcom by 1,536.2% in the fourth quarter. Clifford Swan Investment Counsel LLC now owns 4,434 shares of the semiconductor manufacturer’s stock worth $4,949,000 after purchasing an additional 4,163 shares in the last quarter. Metis Global Partners LLC boosted its stake in Broadcom by 36.8% in the fourth quarter. Metis Global Partners LLC now owns 24,387 shares of the semiconductor manufacturer’s stock worth $27,222,000 after purchasing an additional 6,563 shares in the last quarter. Valley Brook Capital Group Inc. boosted its stake in Broadcom by 3.8% in the fourth quarter. Valley Brook Capital Group Inc. now owns 1,635 shares of the semiconductor manufacturer’s stock worth $1,825,000 after purchasing an additional 60 shares in the last quarter. Finally, Sheets Smith Wealth Management boosted its stake in Broadcom by 4.0% in the fourth quarter. Sheets Smith Wealth Management now owns 283 shares of the semiconductor manufacturer’s stock worth $316,000 after purchasing an additional 11 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

NASDAQ AVGO traded up $32.20 during midday trading on Monday, hitting $1,310.31. The company had a trading volume of 1,627,126 shares, compared to its average volume of 2,890,694. The company has a market capitalization of $607.22 billion, a PE ratio of 48.57, a P/E/G ratio of 2.60 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The firm has a 50-day moving average price of $1,308.68 and a 200-day moving average price of $1,154.58. Broadcom Inc. has a twelve month low of $615.86 and a twelve month high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data 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 firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the previous year, the firm earned $9.83 EPS. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. As a group, analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.60%. Broadcom’s payout ratio is 77.84%.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Oppenheimer restated an “outperform” rating and set a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. JPMorgan Chase & Co. restated an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Evercore ISI initiated coverage on Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price for the company. Finally, UBS Group boosted their target price on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Buying and Selling

In related news, Director Justine Page sold 110 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Justine Page sold 110 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 in the last 90 days. Insiders own 2.00% of the company’s stock.

About Broadcom

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.