Brady Martz Wealth Solutions LLC Takes $5.64 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Brady Martz Wealth Solutions LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 25,095 shares of the semiconductor manufacturer’s stock, valued at approximately $5,639,000. Broadcom accounts for 1.4% of Brady Martz Wealth Solutions LLC’s investment portfolio, making the stock its 15th largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Castleview Partners LLC boosted its stake in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares during the period. Pin Oak Investment Advisors Inc. lifted its stake 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 acquiring an additional 135 shares during the period. JDM Financial Group LLC lifted its stake in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in shares of Broadcom in the 4th quarter worth approximately $37,000. Finally, Tsfg LLC lifted its stake in shares of Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 204 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Piper Sandler upped their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Bank of America upped their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Benchmark reiterated a “buy” rating and issued a $255.00 target price (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Finally, Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.83.

Insiders Place Their Bets

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $237.44 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market capitalization of $1.11 trillion, a PE ratio of 193.67, a PEG ratio of 2.35 and a beta of 1.03. Broadcom Inc. has a 52 week low of $112.19 and a 52 week high of $251.88. The company’s 50 day moving average price is $202.01 and its 200 day moving average price is $178.14.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. Research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

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

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.