Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Wilbanks Smith & Thomas Asset Management LLC

Wilbanks Smith & Thomas Asset Management LLC increased its position in Broadcom Inc. (NASDAQ:AVGO) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,538 shares of the semiconductor manufacturer’s stock after buying an additional 95 shares during the quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Broadcom were worth $3,950,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. increased its position in Broadcom by 25.2% during the 4th quarter. First Trust Direct Indexing L.P. now owns 9,677 shares of the semiconductor manufacturer’s stock worth $10,802,000 after purchasing an additional 1,948 shares in the last quarter. Summit Financial LLC increased its position in shares of Broadcom by 4.0% in the fourth quarter. Summit Financial LLC now owns 8,687 shares of the semiconductor manufacturer’s stock worth $9,696,000 after acquiring an additional 336 shares in the last quarter. RB Capital Management LLC lifted its holdings in shares of Broadcom by 2.3% during the 4th quarter. RB Capital Management LLC now owns 2,964 shares of the semiconductor manufacturer’s stock valued at $3,308,000 after acquiring an additional 68 shares in the last quarter. Howe & Rusling Inc. boosted its position in Broadcom by 9.9% during the 4th quarter. Howe & Rusling Inc. now owns 20,041 shares of the semiconductor manufacturer’s stock worth $22,370,000 after purchasing an additional 1,809 shares during the period. Finally, Concord Wealth Partners increased its holdings in Broadcom by 13.1% in the 4th quarter. Concord Wealth Partners now owns 3,748 shares of the semiconductor manufacturer’s stock valued at $4,184,000 after purchasing an additional 435 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of the sale, the insider now owns 46,974 shares in the company, valued at approximately $61,957,296.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred 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 in the company, valued at $5,991,048.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the transaction, the insider now owns 46,974 shares in the company, valued at $61,957,296.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $9.94 during trading on Thursday, reaching $1,232.92. The company had a trading volume of 530,410 shares, compared to its average volume of 2,880,453. The firm’s fifty day moving average is $1,310.35 and its 200 day moving average is $1,144.51. 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 firm has a market capitalization of $571.36 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17.

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AVGO. Benchmark reiterated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a research report on Friday, January 19th. Evercore ISI started coverage on shares of Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price target for the company. Oppenheimer reissued an “outperform” rating and issued a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Finally, Cantor Fitzgerald increased their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

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.