Alpha Cubed Investments LLC Buys 119 Shares of Broadcom Inc. (NASDAQ:AVGO)

Alpha Cubed Investments LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 12.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,075 shares of the semiconductor manufacturer’s stock after acquiring an additional 119 shares during the period. Alpha Cubed Investments LLC’s holdings in Broadcom were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stuart Chaussee & Associates Inc. acquired a new position in Broadcom in the fourth quarter valued at about $25,000. PSI Advisors LLC grew its stake in Broadcom by 66.7% in the fourth 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 position in Broadcom in the third quarter valued at about $29,000. BKM Wealth Management LLC acquired a new position in Broadcom in the fourth quarter valued at about $29,000. Finally, CKW Financial Group acquired a new position in Broadcom in the fourth quarter valued at about $30,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AVGO. Susquehanna boosted their target price on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. UBS Group upped their price objective on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Cantor Fitzgerald upped their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Evercore ISI began coverage on Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price objective for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Price Performance

Broadcom stock opened at $1,294.00 on Wednesday. The stock’s fifty day moving average price is $1,310.04 and its two-hundred day moving average price is $1,143.82. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The firm has a market cap of $599.67 billion, a PE ratio of 48.19, a price-to-earnings-growth ratio of 2.72 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter last year, the company earned $9.83 EPS. The company’s revenue was up 34.2% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.62%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the sale, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now directly owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 in the last 90 days. 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.