Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Evoke Wealth LLC

Evoke Wealth LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 56.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,081 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,955 shares during the quarter. Evoke Wealth LLC’s holdings in Broadcom were worth $5,119,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB lifted its stake in shares of Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares in the last quarter. Howard Capital Management Group LLC increased its holdings in Broadcom by 2,219.8% in the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after buying an additional 2,908 shares during the last quarter. Pettinga Financial Advisors LLC lifted its stake in Broadcom by 896.9% during the third quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer’s stock worth $502,000 after purchasing an additional 2,619 shares during the last quarter. Impax Asset Management Group plc raised its stake in Broadcom by 884.6% during the third quarter. Impax Asset Management Group plc now owns 119,529 shares of the semiconductor manufacturer’s stock worth $20,619,000 after acquiring an additional 107,389 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after purchasing an additional 6,540,800 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AVGO. Evercore ISI lifted their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. KeyCorp increased their price target on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Truist Financial upped their price objective on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. Three investment 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Down 0.5 %

Shares of AVGO opened at $194.50 on Tuesday. The business’s 50 day simple moving average is $217.28 and its 200-day simple moving average is $194.43. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a market capitalization of $914.53 billion, a P/E ratio of 158.65, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Insider Activity at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 12,570 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the completion of the transaction, the chief financial officer now directly owns 325,443 shares of the company’s stock, valued at approximately $74,728,221.66. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,738 shares of company stock valued at $43,395,200. 2.00% of the stock is owned by insiders.

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.