Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,188 shares of the semiconductor manufacturer’s stock after purchasing an additional 201 shares during the quarter. Broadcom accounts for 0.7% of Baker Tilly Wealth Management LLC’s investment portfolio, making the stock its 28th largest position. Baker Tilly Wealth Management LLC’s holdings in Broadcom were worth $1,898,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of AVGO. Castleview Partners LLC increased its position in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its position in shares of Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares during the period. JDM Financial Group LLC lifted its holdings in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the last quarter. Tsfg LLC raised its position in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares during the period. Finally, Cedar Wealth Management LLC lifted its stake in shares of Broadcom by 900.0% in the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after purchasing an additional 216 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 187,278 shares of company stock worth $44,046,240 in the last three months. Insiders own 2.00% of the company’s stock.

Broadcom Stock Down 2.0 %

Shares of Broadcom stock traded down $4.60 during trading hours on Friday, hitting $224.71. The company had a trading volume of 7,590,068 shares, compared to its average volume of 23,586,682. The company’s 50-day moving average is $195.79 and its two-hundred day moving average is $175.31. The company has a market cap of $1.05 trillion, a P/E ratio of 195.23, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a twelve month low of $107.45 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the company posted $0.98 earnings per share. The business’s revenue was up 51.2% on a year-over-year basis. Analysts anticipate that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Analysts Set New Price Targets

AVGO has been the topic of several research analyst reports. UBS Group boosted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Benchmark restated a “buy” rating and set a $255.00 price target (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Bank of America lifted their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Evercore ISI raised their target price on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Robert W. Baird boosted their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $221.88.

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.