Wade G W & Inc. Has $46.61 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Wade G W & Inc. boosted its position in Broadcom Inc. (NASDAQ:AVGOFree Report) by 29.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,757 shares of the semiconductor manufacturer’s stock after buying an additional 9,483 shares during the period. Broadcom makes up 1.5% of Wade G W & Inc.’s holdings, making the stock its 13th biggest holding. Wade G W & Inc.’s holdings in Broadcom were worth $46,611,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Horizon Family Wealth Inc. lifted its position in Broadcom by 1.3% in the fourth quarter. Horizon Family Wealth Inc. now owns 640 shares of the semiconductor manufacturer’s stock valued at $715,000 after purchasing an additional 8 shares during the last quarter. BetterWealth LLC raised its holdings in Broadcom by 1.5% during the 4th quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock valued at $672,000 after buying an additional 9 shares during the last quarter. Sargent Investment Group LLC boosted its position in Broadcom by 1.6% during the 4th quarter. Sargent Investment Group LLC now owns 557 shares of the semiconductor manufacturer’s stock valued at $622,000 after buying an additional 9 shares during the period. Centric Wealth Management grew its holdings in Broadcom by 1.6% in the 4th quarter. Centric Wealth Management now owns 579 shares of the semiconductor manufacturer’s stock worth $646,000 after acquiring an additional 9 shares during the last quarter. Finally, Rise Advisors LLC increased its position in shares of Broadcom by 33.3% in the fourth 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. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of recent analyst reports. UBS Group upped their price target on Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Evercore ISI initiated coverage on Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 target price for the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research note on Thursday, March 21st. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Finally, Benchmark reissued a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,296.91.

View Our Latest Analysis on Broadcom

Insider Transactions at Broadcom

In other news, Director Kenneth Hao sold 9,160 shares of the firm’s 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 owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the 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 transaction of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO traded up $42.52 during trading hours on Tuesday, reaching $1,380.03. The company had a trading volume of 1,941,205 shares, compared to its average volume of 2,803,905. The firm’s 50 day moving average price is $1,307.02 and its 200-day moving average price is $1,171.00. The firm has a market cap of $639.53 billion, a price-to-earnings ratio of 51.15, a PEG ratio of 2.71 and a beta of 1.25. 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 Inc. has a 52 week low of $628.47 and a 52 week high of $1,438.17.

Broadcom (NASDAQ:AVGOGet Free Report) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.83 earnings per share. On average, analysts forecast that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 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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