Alesco Advisors LLC Invests $244,000 in Broadcom Inc. (NASDAQ:AVGO)

Alesco Advisors LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 219 shares of the semiconductor manufacturer’s stock, valued at approximately $244,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. PSI Advisors LLC raised its stake in shares of Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares during the last quarter. Macroview Investment Management LLC purchased a new stake in shares of Broadcom during the third quarter valued at approximately $29,000. BKM Wealth Management LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $29,000. CKW Financial Group purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $30,000. Finally, Bfsg LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 over the last 90 days. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Broadcom stock traded up $49.65 during midday trading on Friday, hitting $1,344.07. 2,409,427 shares of the company’s stock were exchanged, compared to its average volume of 2,935,572. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The stock has a 50-day moving average price of $1,306.70 and a two-hundred day moving average price of $1,134.07. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The company has a market cap of $622.87 billion, a P/E ratio of 49.82, a PEG ratio of 2.56 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the previous year, the company posted $9.83 earnings per share. The company’s revenue was up 34.2% compared to the same quarter last year. On average, equities research analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently declared 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. This represents a $21.00 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research report on Friday, January 19th. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Evercore ISI initiated coverage on Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target for the company. Finally, UBS Group increased their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

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.