1,105 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by Sanchez Wealth Management Group

Sanchez Wealth Management Group purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 1,105 shares of the semiconductor manufacturer’s stock, valued at approximately $256,000.

A number of other hedge funds have also modified their holdings of the business. Santori & Peters Inc. acquired a new stake in shares of Broadcom during the fourth quarter worth $229,000. Wilmington Savings Fund Society FSB raised its stake in Broadcom by 30.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 73,291 shares of the semiconductor manufacturer’s stock worth $16,992,000 after purchasing an additional 17,233 shares during the period. Arlington Financial Advisors LLC purchased a new stake in Broadcom during the fourth quarter valued at about $290,000. Kingsview Wealth Management LLC increased its position in Broadcom by 14.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 111,802 shares of the semiconductor manufacturer’s stock worth $25,920,000 after purchasing an additional 13,933 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its stake in shares of Broadcom by 2.9% in the 4th quarter. Apollon Wealth Management LLC now owns 210,026 shares of the semiconductor manufacturer’s stock valued at $48,692,000 after acquiring an additional 5,879 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley dropped their target price on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Truist Financial increased their price objective on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Susquehanna boosted their price target on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. TD Cowen raised their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Evercore ISI boosted their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Stock Performance

Shares of AVGO opened at $235.04 on Wednesday. The stock’s fifty day simple moving average is $221.13 and its 200-day simple moving average is $185.16. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $1.10 trillion, a PE ratio of 191.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.00%. Broadcom’s payout ratio is 192.50%.

About Broadcom

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.