Sendero Wealth Management LLC Has $14.76 Million Stock Position in Broadcom Inc. $AVGO

Sendero Wealth Management LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 87.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,745 shares of the semiconductor manufacturer’s stock after purchasing an additional 20,910 shares during the period. Broadcom makes up approximately 1.7% of Sendero Wealth Management LLC’s investment portfolio, making the stock its 11th largest holding. Sendero Wealth Management LLC’s holdings in Broadcom were worth $14,762,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Sawyer & Company Inc raised its position in shares of Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 36 shares during the period. Longfellow Investment Management Co. LLC acquired a new stake in Broadcom in the second quarter worth $27,000. Legend Financial Advisors Inc. bought a new position in shares of Broadcom during the second quarter worth $28,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Broadcom during the second quarter worth $28,000. Finally, LGT Financial Advisors LLC acquired a new position in shares of Broadcom in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $361.89, for a total value of $289,512.00. Following the completion of the sale, the director owned 20,582 shares of the company’s stock, valued at approximately $7,448,419.98. This represents a 3.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 1,928 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $327.80, for a total transaction of $631,998.40. Following the completion of the transaction, the insider directly owned 23,582 shares of the company’s stock, valued at $7,730,179.60. This represents a 7.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 825,296 shares of company stock valued at $299,151,975 in the last ninety days. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft set a $430.00 price objective on Broadcom and gave the stock a “buy” rating in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Broadcom in a research report on Monday. Citigroup reiterated a “buy” rating and set a $480.00 price objective (up previously from $415.00) on shares of Broadcom in a report on Friday, December 12th. Raymond James Financial set a $420.00 target price on Broadcom and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Finally, Cowen restated a “buy” rating on shares of Broadcom in a report on Friday, December 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $435.96.

Broadcom Price Performance

Shares of AVGO opened at $329.88 on Friday. The company has a 50 day moving average of $362.66 and a 200-day moving average of $320.02. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $1.56 trillion, a P/E ratio of 69.30, a P/E/G ratio of 1.09 and a beta of 1.19. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The business had revenue of $18.02 billion during the quarter, compared to the consensus estimate of $17.46 billion. During the same quarter last year, the firm earned $1.42 earnings per share. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be given a $0.65 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, December 22nd. Broadcom’s dividend payout ratio (DPR) is presently 54.62%.

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.