Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Spire Wealth Management

Spire Wealth Management increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,178 shares of the semiconductor manufacturer’s stock after acquiring an additional 88 shares during the quarter. Spire Wealth Management’s holdings in Broadcom were worth $6,272,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stuart Chaussee & Associates Inc. purchased a new position in Broadcom during the fourth quarter worth about $25,000. PSI Advisors LLC lifted its holdings in Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 10 shares during the period. Macroview Investment Management LLC acquired a new position in shares of Broadcom during the 3rd quarter worth $29,000. BKM Wealth Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at about $29,000. Finally, CKW Financial Group purchased a new position in shares of Broadcom in the 4th quarter valued at about $30,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the sale, the insider now directly owns 41,974 shares in the company, valued at $55,257,092.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now directly owns 41,974 shares in the company, valued at $55,257,092.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Up 2.5 %

Shares of NASDAQ AVGO traded up $32.20 during midday trading on Monday, reaching $1,310.31. 1,626,543 shares of the company’s stock were exchanged, compared to its average volume of 2,890,694. Broadcom Inc. has a 52-week low of $615.86 and a 52-week high of $1,438.17. The stock has a market capitalization of $607.22 billion, a PE ratio of 47.96, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25. 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 business’s fifty day moving average price is $1,308.66 and its two-hundred day moving average price is $1,151.47.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. The business 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 business’s revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the firm posted $9.83 earnings per share. Analysts forecast that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

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

Analysts Set New Price Targets

AVGO has been the subject of several research analyst reports. Mizuho raised their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Barclays raised their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. UBS Group raised their price target on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Evercore ISI started coverage on Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target for the company. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research report on Friday, January 19th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

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.