Apollon Wealth Management LLC Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Apollon Wealth Management LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 28.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,543 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,880 shares during the quarter. Broadcom accounts for 0.7% of Apollon Wealth Management LLC’s portfolio, making the stock its 29th largest position. Apollon Wealth Management LLC’s holdings in Broadcom were worth $19,583,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Stuart Chaussee & Associates Inc. acquired a new position in Broadcom in the 4th quarter valued at $25,000. PSI Advisors LLC lifted its position in Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 10 shares during the period. Macroview Investment Management LLC acquired a new stake in Broadcom in the 3rd quarter worth about $29,000. BKM Wealth Management LLC purchased a new stake in Broadcom in the 4th quarter valued at about $29,000. Finally, CKW Financial Group acquired a new position in shares of Broadcom during the 4th quarter valued at about $30,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In related news, Director Justine Page sold 110 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadcom news, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Mizuho boosted their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Oppenheimer restated an “outperform” rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research report on Thursday, March 21st. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Finally, Evercore ISI started coverage on Broadcom in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Stock Down 0.5 %

Shares of AVGO traded down $7.20 during trading on Tuesday, reaching $1,303.11. The company’s stock had a trading volume of 1,240,937 shares, compared to its average volume of 2,871,969. The company has a market cap of $603.89 billion, a price-to-earnings ratio of 48.54, a P/E/G ratio of 2.60 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company has a fifty day moving average of $1,308.68 and a two-hundred day moving average of $1,154.58. Broadcom Inc. has a twelve month low of $615.86 and a twelve month high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the company posted $9.83 earnings per share. On average, sell-side analysts predict that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

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.