Broadcom Inc. (NASDAQ:AVGO) Stock Position Lifted by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 56.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,306 shares of the semiconductor manufacturer’s stock after buying an additional 473 shares during the period. Broadcom comprises approximately 0.3% of Moss Adams Wealth Advisors LLC’s holdings, making the stock its 29th biggest position. Moss Adams Wealth Advisors LLC’s holdings in Broadcom were worth $1,460,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Stuart Chaussee & Associates Inc. bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $25,000. PSI Advisors LLC raised its stake in Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 10 shares in the last quarter. BKM Wealth Management LLC bought a new position in shares of Broadcom in the fourth quarter worth $29,000. CKW Financial Group acquired a new position in shares of Broadcom during the fourth quarter valued at $30,000. Finally, Bfsg LLC bought a new stake in shares of Broadcom during the fourth quarter valued at about $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 1.7 %

Shares of AVGO stock traded up $22.26 during trading on Wednesday, hitting $1,325.37. 1,391,012 shares of the company were exchanged, compared to its average volume of 2,855,330. The business’s 50-day simple moving average is $1,308.82 and its 200 day simple moving average is $1,157.75. Broadcom Inc. has a twelve month low of $615.86 and a twelve month high of $1,438.17. The firm has a market capitalization of $614.20 billion, a price-to-earnings ratio of 49.12, a P/E/G ratio of 2.60 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last issued 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. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same quarter last year, the business posted $9.83 EPS. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, analysts forecast that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors 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 annualized dividend and a dividend yield of 1.58%. Broadcom’s payout ratio is 77.84%.

Analysts Set New Price Targets

AVGO has been the topic of several research analyst reports. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and raised their target price for the company from $1,400.00 to $1,500.00 in a research note 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 note on Friday, January 19th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Cantor Fitzgerald raised their target price on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Finally, Mizuho boosted their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 5,000 shares of the company’s 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 completion of the sale, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on 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 transaction, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

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.