Paragon Private Wealth Management LLC Buys 1,393 Shares of Broadcom Inc. (NASDAQ:AVGO)

Paragon Private Wealth Management LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 17.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,353 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,393 shares during the quarter. Broadcom accounts for about 1.0% of Paragon Private Wealth Management LLC’s portfolio, making the stock its 27th largest position. Paragon Private Wealth Management LLC’s holdings in Broadcom were worth $2,168,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AVGO. Pin Oak Investment Advisors Inc. increased 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 worth $25,000 after buying an additional 135 shares during the last quarter. Canton Hathaway LLC bought a new position in shares of Broadcom during the 4th quarter valued at $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom during the 4th quarter valued at $26,000. JDM Financial Group LLC grew its holdings in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the last quarter. Finally, Bellevue Asset Management LLC bought a new position in shares of Broadcom during the 4th quarter valued at $33,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 8.6 %

AVGO stock opened at $194.96 on Monday. 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 twelve month low of $119.76 and a twelve month high of $251.88. The stock has a market capitalization of $913.85 billion, a price-to-earnings ratio of 159.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The firm’s fifty day simple moving average is $222.28 and its two-hundred day simple moving average is $193.12.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business’s revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 earnings per share. As a group, analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is presently 191.87%.

Insider Transactions at Broadcom

In other Broadcom news, 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 transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Check Kian Low sold 48,000 shares of the 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 transaction, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. 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. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AVGO. Benchmark reaffirmed a “buy” rating and set a $255.00 target price on shares of Broadcom in a report on Friday. TD Cowen lifted their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Truist Financial lifted their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler lifted their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Broadcom in a report on Friday. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

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.