262 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Principle Wealth Partners LLC

Principle Wealth Partners LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 262 shares of the semiconductor manufacturer’s stock, valued at approximately $293,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Paradiem LLC boosted its holdings in Broadcom by 16.8% during the fourth quarter. Paradiem LLC now owns 7,894 shares of the semiconductor manufacturer’s stock worth $8,812,000 after purchasing an additional 1,134 shares during the last quarter. Matrix Trust Co boosted its stake in Broadcom by 2.7% in the fourth quarter. Matrix Trust Co now owns 1,912 shares of the semiconductor manufacturer’s stock valued at $2,134,000 after acquiring an additional 50 shares during the last quarter. Consolidated Planning Corp boosted its stake in Broadcom by 0.7% in the fourth quarter. Consolidated Planning Corp now owns 7,445 shares of the semiconductor manufacturer’s stock valued at $8,311,000 after acquiring an additional 54 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Broadcom by 16.5% in the fourth quarter. Russell Investments Group Ltd. now owns 183,792 shares of the semiconductor manufacturer’s stock valued at $205,261,000 after acquiring an additional 25,981 shares during the last quarter. Finally, Dohj LLC purchased a new position in Broadcom in the fourth quarter valued at about $572,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the sale, the insider now directly owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,920 shares of company stock valued at $40,306,667. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Susquehanna boosted their target price 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. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a report on Friday, January 19th. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Finally, Barclays lifted their price objective on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Stock Performance

NASDAQ AVGO opened at $1,344.07 on Monday. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The company has a market capitalization of $622.87 billion, a P/E ratio of 49.82, a P/E/G ratio of 2.74 and a beta of 1.25. The company has a fifty day moving average of $1,306.70 and a 200-day moving average of $1,137.84.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the previous year, the firm posted $9.83 EPS. The firm’s revenue was up 34.2% compared to the same quarter last year. As a group, equities research analysts predict that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Broadcom Company 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.