AXS Investments LLC Purchases 55 Shares of Broadcom Inc. (NASDAQ:AVGO)

AXS Investments LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,623 shares of the semiconductor manufacturer’s stock after buying an additional 55 shares during the quarter. AXS Investments LLC’s holdings in Broadcom were worth $1,812,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Stuart Chaussee & Associates Inc. bought a new stake in shares of Broadcom in the fourth quarter valued at approximately $25,000. PSI Advisors LLC raised its stake in shares of 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 purchasing an additional 10 shares in the last quarter. BKM Wealth Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at $29,000. CKW Financial Group acquired a new position in shares of Broadcom in the fourth quarter valued at $30,000. Finally, Bfsg LLC acquired a new position in shares of Broadcom in the fourth quarter valued at $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 0.1 %

Shares of NASDAQ:AVGO traded up $1.05 during trading on Thursday, hitting $1,393.29. 3,070,482 shares of the company were exchanged, compared to its average volume of 2,774,942. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a fifty-two week low of $676.06 and a fifty-two week high of $1,445.40. The firm has a fifty day moving average price of $1,318.57 and a two-hundred day moving average price of $1,195.69. The stock has a market cap of $645.68 billion, a price-to-earnings ratio of 51.50, a P/E/G ratio of 2.79 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. 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 company posted $9.83 EPS. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. As a group, research analysts anticipate that Broadcom Inc. will post 36.06 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.51%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Activity at Broadcom

In related news, 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 value of $3,297,425.00. Following the completion of the sale, the insider now directly owns 46,974 shares in the company, valued at approximately $61,957,296.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of the transaction, the insider now directly owns 46,974 shares of the company’s stock, valued at approximately $61,957,296.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 in the last ninety days. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent research reports. Mizuho upped their target price 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. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. Cantor Fitzgerald increased their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Evercore ISI started coverage on Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price objective for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $1,296.91.

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.