Veridan Wealth LLC Purchases Shares of 1,377 Broadcom Inc. (NASDAQ:AVGO)

Veridan Wealth LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,377 shares of the semiconductor manufacturer’s stock, valued at approximately $300,000.

A number of other large investors also recently bought and sold shares of the stock. Waterway Wealth Management LLC lifted its holdings in Broadcom by 26.7% in the fourth quarter. Waterway Wealth Management LLC now owns 3,149 shares of the semiconductor manufacturer’s stock valued at $730,000 after acquiring an additional 664 shares during the period. Pettyjohn Wood & White Inc. lifted its holdings in Broadcom by 1.3% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 16,930 shares of the semiconductor manufacturer’s stock valued at $3,925,000 after acquiring an additional 210 shares during the period. Private Capital Management LLC lifted its holdings in Broadcom by 951.1% in the third quarter. Private Capital Management LLC now owns 1,419 shares of the semiconductor manufacturer’s stock valued at $245,000 after acquiring an additional 1,284 shares during the period. Argyle Capital Management LLC lifted its holdings in Broadcom by 3.7% in the fourth quarter. Argyle Capital Management LLC now owns 5,358 shares of the semiconductor manufacturer’s stock valued at $1,242,000 after acquiring an additional 190 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in Broadcom by 2.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 17,698 shares of the semiconductor manufacturer’s stock valued at $4,103,000 after acquiring an additional 367 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

AVGO opened at $199.29 on Friday. 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 firm has a market cap of $934.16 billion, a price-to-earnings ratio of 162.56, a PEG ratio of 2.29 and a beta of 1.02. The stock’s 50-day moving average price is $227.44 and its 200 day moving average price is $192.11. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. TD Cowen upped their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Jefferies Financial Group increased their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Morgan Stanley reduced their price objective on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Buying and Selling

In related news, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last quarter. 2.00% of the stock is owned by insiders.

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.