Avidian Wealth Solutions LLC Buys 119 Shares of Broadcom Inc. (NASDAQ:AVGO)

Avidian Wealth Solutions LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,608 shares of the semiconductor manufacturer’s stock after buying an additional 119 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Broadcom were worth $1,795,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. BetterWealth LLC lifted its position in shares of Broadcom by 1.5% during the 4th quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock worth $672,000 after buying an additional 9 shares during the last quarter. Sargent Investment Group LLC lifted its holdings in shares of Broadcom by 1.6% in the fourth quarter. Sargent Investment Group LLC now owns 557 shares of the semiconductor manufacturer’s stock worth $622,000 after acquiring an additional 9 shares during the last quarter. Rise Advisors LLC lifted its holdings in shares of Broadcom by 33.3% in the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after acquiring an additional 10 shares during the last quarter. CX Institutional boosted its stake in shares of Broadcom by 0.8% in the 4th quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after purchasing an additional 10 shares in the last quarter. Finally, Cascade Investment Group Inc. grew its holdings in shares of Broadcom by 1.7% during the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock valued at $680,000 after purchasing an additional 10 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Up 3.2 %

AVGO traded up $39.54 during trading on Friday, hitting $1,278.11. The company’s stock had a trading volume of 2,489,755 shares, compared to its average volume of 2,435,058. The firm has a market capitalization of $592.30 billion, a P/E ratio of 47.37, a PEG ratio of 2.60 and a beta of 1.25. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The stock’s fifty day moving average price is $1,308.66 and its 200-day moving average price is $1,151.47. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.83 EPS. Analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.64%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Analyst Ratings Changes

A number of research firms have weighed in on AVGO. Evercore ISI initiated coverage on shares of Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price on the stock. Barclays increased their target price on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Cantor Fitzgerald boosted their price target on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Mizuho upped their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, UBS Group lifted their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Activity

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

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.