Global Wealth Management Investment Advisory Inc. Purchases New Position in Broadcom Inc. (NASDAQ:AVGO)

Global Wealth Management Investment Advisory Inc. acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, Holdings Channel reports. The fund acquired 1,220 shares of the semiconductor manufacturer’s stock, valued at approximately $283,000.

Other large investors have also modified their holdings of the company. Central Pacific Bank Trust Division boosted its holdings in shares of Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after acquiring an additional 3,707 shares during the period. Wolff Financial Management LLC purchased a new stake in Broadcom in the 4th quarter valued at $244,000. Strait & Sound Wealth Management LLC boosted its stake in Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after purchasing an additional 7,095 shares during the period. Catalyst Financial Partners LLC grew its position in Broadcom by 943.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares during the last quarter. Finally, Motive Wealth Advisors increased its stake in Broadcom by 1,076.5% in the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after purchasing an additional 4,209 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their price target on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Susquehanna lifted their target price on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. TD Cowen upped their price target on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Citigroup lifted their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $236.35 on Thursday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company’s 50-day moving average price is $222.47 and its 200 day moving average price is $185.75. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The stock has a market cap of $1.11 trillion, a price-to-earnings ratio of 192.78, a PEG ratio of 2.42 and a beta of 1.02.

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

Broadcom Increases Dividend

The business 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 represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is 192.50%.

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.