WealthShield Partners LLC Grows Stake in Broadcom Inc. (NASDAQ:AVGO)

WealthShield Partners LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 7.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,512 shares of the semiconductor manufacturer’s stock after purchasing an additional 181 shares during the quarter. WealthShield Partners LLC’s holdings in Broadcom were worth $2,804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC increased its holdings in shares of Broadcom by 76.5% in the 3rd quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 13 shares during the period. Bollard Group LLC purchased a new position in Broadcom during the 2nd quarter worth $26,000. Macroview Investment Management LLC purchased a new position in Broadcom during the 3rd quarter worth $29,000. BKM Wealth Management LLC purchased a new position in Broadcom during the 4th quarter worth $29,000. Finally, Indiana Trust & Investment Management CO purchased a new position in Broadcom during the 3rd quarter worth $32,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research analyst reports. Benchmark reiterated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Oppenheimer reissued an “outperform” rating and set a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and increased their target price for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Barclays started coverage on Broadcom in a research report on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 price target for the company. Finally, StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Three research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,230.18.

Check Out Our Latest Stock Report on AVGO

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the transaction, the insider now owns 46,974 shares in the company, valued at $61,957,296.78. The disclosure for this sale can be found here. Insiders have sold a total of 22,310 shares of company stock worth $29,405,117 in the last three months. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of Broadcom stock traded up $14.09 during trading on Wednesday, reaching $1,352.85. The company’s stock had a trading volume of 1,553,435 shares, compared to its average volume of 3,040,833. The company has a 50-day moving average price of $1,282.61 and a two-hundred day moving average price of $1,078.22. The firm has a market cap of $626.94 billion, a PE ratio of 50.69, a P/E/G ratio of 2.85 and a beta of 1.25. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week 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.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The business 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 company’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the company posted $9.83 EPS. On average, analysts forecast that Broadcom Inc. will post 36.8 EPS for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.55%. Broadcom’s payout ratio is 77.84%.

About Broadcom

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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