Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Financial Perspectives Inc

Financial Perspectives Inc boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,106 shares of the semiconductor manufacturer’s stock after purchasing an additional 9 shares during the period. Broadcom makes up approximately 1.9% of Financial Perspectives Inc’s portfolio, making the stock its 13th biggest holding. Financial Perspectives Inc’s holdings in Broadcom were worth $4,583,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. PSI Advisors LLC grew its position in shares of Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 10 shares during the period. Macroview Investment Management LLC acquired a new stake in shares of Broadcom during the 3rd quarter valued at about $29,000. BKM Wealth Management LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at about $29,000. CKW Financial Group acquired a new stake in shares of Broadcom during the 4th quarter valued at about $30,000. Finally, Rise Advisors LLC grew its position in shares of Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after acquiring an additional 10 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Up 2.0 %

Broadcom stock traded up $24.73 during trading on Tuesday, hitting $1,249.19. The company had a trading volume of 2,198,693 shares, compared to its average volume of 2,952,703. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. 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 company’s 50 day simple moving average is $1,304.30 and its 200-day simple moving average is $1,125.79. The stock has a market cap of $578.90 billion, a price-to-earnings ratio of 46.21, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its earnings results 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 net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter last year, the firm earned $9.83 EPS. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, analysts expect that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.68%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AVGO. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Mizuho raised their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Barclays raised their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares in the company, valued at approximately $55,257,092.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares in the company, valued at $220,583,976. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the transaction, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

Broadcom Company 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.