Kestra Private Wealth Services LLC Buys 32 Shares of Broadcom Inc. (NASDAQ:AVGO)

Kestra Private Wealth Services LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 0.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,795 shares of the semiconductor manufacturer’s stock after acquiring an additional 32 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Broadcom were worth $19,864,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AVGO. Crew Capital Management Ltd. bought a new position in shares of Broadcom during the fourth quarter valued at $239,000. Intrust Bank NA grew its position in Broadcom by 1.7% during the 4th quarter. Intrust Bank NA now owns 6,070 shares of the semiconductor manufacturer’s stock valued at $6,776,000 after purchasing an additional 99 shares during the last quarter. Orca Investment Management LLC increased its stake in Broadcom by 9.3% during the 4th quarter. Orca Investment Management LLC now owns 2,170 shares of the semiconductor manufacturer’s stock valued at $2,422,000 after purchasing an additional 185 shares in the last quarter. Naviter Wealth LLC raised its holdings in Broadcom by 23.0% in the fourth quarter. Naviter Wealth LLC now owns 2,543 shares of the semiconductor manufacturer’s stock worth $2,839,000 after buying an additional 475 shares during the last quarter. Finally, Investment House LLC lifted its stake in shares of Broadcom by 3.1% in the fourth quarter. Investment House LLC now owns 1,138 shares of the semiconductor manufacturer’s stock worth $1,270,000 after buying an additional 34 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In other news, Director Kenneth Hao sold 9,160 shares of the company’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 completion of 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 SEC, which is accessible through this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the business’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 sale, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the firm’s 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 transaction, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AVGO. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a research report on Friday, January 19th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Evercore ISI began coverage on Broadcom in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 target price for the company. Barclays upped their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Finally, Benchmark reiterated a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Stock Performance

NASDAQ:AVGO traded down $5.45 during mid-day trading on Monday, hitting $1,338.62. 1,336,653 shares of the company traded hands, compared to its average volume of 2,915,600. The stock’s fifty day moving average price is $1,308.57 and its 200-day moving average price is $1,140.88. 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 Inc. has a one year low of $601.29 and a one year high of $1,438.17. The firm has a market cap of $620.34 billion, a price-to-earnings ratio of 49.62, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data 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 return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the previous year, the company posted $9.83 EPS. The firm’s revenue was up 34.2% on a year-over-year basis. Research analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.57%. Broadcom’s payout ratio is 77.84%.

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.