Private Client Services LLC Acquires New Position in Broadcom Inc. (NASDAQ:AVGO)

Private Client Services LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 250 shares of the semiconductor manufacturer’s stock, valued at approximately $279,000.

Several other large investors have also bought and sold shares of the business. Macroview Investment Management LLC bought a new position in Broadcom in the third quarter valued at $29,000. BKM Wealth Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at approximately $29,000. CKW Financial Group acquired a new position in shares of Broadcom in the 4th quarter valued at approximately $30,000. Indiana Trust & Investment Management CO acquired a new position in shares of Broadcom in the 3rd quarter valued at approximately $32,000. Finally, VitalStone Financial LLC grew its holdings in shares of Broadcom by 71.4% during the 1st quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock valued at $40,000 after purchasing an additional 25 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the transaction, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the sale, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 in the last three months. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Evercore ISI assumed coverage on shares of Broadcom in a report on Tuesday. They set an “outperform” rating and a $1,620.00 target price on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Susquehanna raised their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Finally, UBS Group raised their price target on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,281.09.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $1,315.59 on Tuesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The company has a market cap of $609.67 billion, a PE ratio of 48.58, a P/E/G ratio of 2.74 and a beta of 1.25. The business has a 50-day simple moving average of $1,304.36 and a two-hundred day simple moving average of $1,110.50.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the previous year, the business earned $9.83 earnings per share. The business’s revenue was up 34.2% compared to the same quarter last year. As a group, equities analysts expect that Broadcom Inc. will post 35.95 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

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.