Wealthstream Advisors Inc. Acquires 70 Shares of Broadcom Inc. (NASDAQ:AVGO)

Wealthstream Advisors Inc. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.5% in the fourth quarter, Holdings Channel reports. The firm owned 4,661 shares of the semiconductor manufacturer’s stock after purchasing an additional 70 shares during the quarter. Wealthstream Advisors Inc.’s holdings in Broadcom were worth $1,081,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Crestwood Advisors Group LLC boosted its holdings in shares of Broadcom by 8.8% during the 4th quarter. Crestwood Advisors Group LLC now owns 180,542 shares of the semiconductor manufacturer’s stock worth $41,857,000 after buying an additional 14,542 shares during the period. IFP Advisors Inc boosted its holdings in shares of Broadcom by 35.7% during the 4th quarter. IFP Advisors Inc now owns 48,398 shares of the semiconductor manufacturer’s stock worth $11,221,000 after buying an additional 12,735 shares during the period. Rowlandmiller & PARTNERS.ADV bought a new stake in shares of Broadcom during the 4th quarter worth about $104,000. Waverton Investment Management Ltd raised its stake in Broadcom by 69.0% in the 4th quarter. Waverton Investment Management Ltd now owns 2,180 shares of the semiconductor manufacturer’s stock worth $505,000 after purchasing an additional 890 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its stake in Broadcom by 1.2% in the 4th quarter. Capital Advisors Ltd. LLC now owns 6,866 shares of the semiconductor manufacturer’s stock worth $1,592,000 after purchasing an additional 83 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

AVGO stock opened at $202.54 on Wednesday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market cap of $949.38 billion, a price-to-earnings ratio of 165.21, a P/E/G ratio of 2.29 and a beta of 1.02. The company has a 50 day simple moving average of $228.49 and a 200 day simple moving average of $191.31.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the firm posted $0.98 EPS. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. Research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.17%. This is a positive change 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 presently 191.87%.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % 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 valued at $44,964,800 in the last ninety days. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on AVGO shares. Jefferies Financial Group lifted their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Truist Financial lifted their price objective on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Mizuho boosted their target price on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Benchmark restated a “buy” rating and issued a $255.00 target price (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, Barclays boosted their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $225.04.

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.