Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Defined Wealth Management LLC

Defined Wealth Management LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 0.4% during the 4th quarter, Holdings Channel reports. The firm owned 12,712 shares of the semiconductor manufacturer’s stock after purchasing an additional 47 shares during the quarter. Broadcom makes up approximately 2.0% of Defined Wealth Management LLC’s investment portfolio, making the stock its 16th largest position. Defined Wealth Management LLC’s holdings in Broadcom were worth $2,947,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Albert D Mason Inc. increased its position in shares of Broadcom by 5.3% during the fourth quarter. Albert D Mason Inc. now owns 1,839 shares of the semiconductor manufacturer’s stock worth $426,000 after purchasing an additional 93 shares in the last quarter. Sax Wealth Advisors LLC boosted its stake in Broadcom by 6.0% during the 4th quarter. Sax Wealth Advisors LLC now owns 5,588 shares of the semiconductor manufacturer’s stock worth $1,296,000 after purchasing an additional 318 shares during the last quarter. Merit Financial Group LLC grew its holdings in shares of Broadcom by 79.3% during the fourth quarter. Merit Financial Group LLC now owns 111,238 shares of the semiconductor manufacturer’s stock worth $25,790,000 after buying an additional 49,183 shares in the last quarter. Brand Asset Management Group Inc. lifted its stake in shares of Broadcom by 25.5% in the fourth quarter. Brand Asset Management Group Inc. now owns 1,687 shares of the semiconductor manufacturer’s stock worth $391,000 after buying an additional 343 shares in the last quarter. Finally, Chemistry Wealth Management LLC boosted its position in Broadcom by 20.1% during the fourth quarter. Chemistry Wealth Management LLC now owns 2,435 shares of the semiconductor manufacturer’s stock worth $565,000 after acquiring an additional 408 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $237.44 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a fifty-two week low of $112.19 and a fifty-two week high of $251.88. The company has a market cap of $1.11 trillion, a P/E ratio of 193.67, a PEG ratio of 2.35 and a beta of 1.03. The firm’s 50 day moving average price is $202.01 and its 200 day moving average price is $178.14.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the firm earned $0.98 earnings per share. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. On average, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.99%. Broadcom’s payout ratio is currently 192.50%.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent research reports. Piper Sandler increased their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Susquehanna lifted their price objective on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Morgan Stanley boosted their price objective on Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Jefferies Financial Group raised their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Truist Financial boosted their price target on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.83.

Insider Buying and Selling

In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company’s stock.

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.