261 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Kellett Wealth Advisors LLC

Kellett Wealth Advisors LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, Holdings Channel reports. The fund purchased 261 shares of the semiconductor manufacturer’s stock, valued at approximately $291,000.

A number of other institutional investors also recently bought and sold shares of the business. Colton Groome Financial Advisors LLC raised its position in Broadcom by 18.1% during the 4th quarter. Colton Groome Financial Advisors LLC now owns 2,055 shares of the semiconductor manufacturer’s stock worth $2,294,000 after buying an additional 315 shares during the last quarter. Fidelis Capital Partners LLC raised its position in Broadcom by 20.3% during the 4th quarter. Fidelis Capital Partners LLC now owns 3,176 shares of the semiconductor manufacturer’s stock worth $3,545,000 after buying an additional 536 shares during the last quarter. Western Wealth Management LLC raised its position in Broadcom by 2.0% during the 4th quarter. Western Wealth Management LLC now owns 10,500 shares of the semiconductor manufacturer’s stock worth $11,721,000 after buying an additional 207 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp raised its position in Broadcom by 9.5% during the 4th quarter. Obermeyer Wood Investment Counsel Lllp now owns 1,388 shares of the semiconductor manufacturer’s stock worth $1,549,000 after buying an additional 120 shares during the last quarter. Finally, Trust Investment Advisors raised its position in Broadcom by 7.0% during the 4th quarter. Trust Investment Advisors now owns 2,749 shares of the semiconductor manufacturer’s stock worth $3,068,000 after buying an additional 179 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 1.8 %

AVGO traded down $23.64 on Thursday, hitting $1,258.99. The company had a trading volume of 2,486,763 shares, compared to its average volume of 2,947,770. The firm has a market cap of $583.44 billion, a P/E ratio of 46.86, a PEG ratio of 2.71 and a beta of 1.25. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The company’s fifty day moving average price is $1,307.00 and its 200 day moving average price is $1,115.19. 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 (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, beating the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the firm earned $9.83 EPS. As a group, equities analysts expect that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.67%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the business’s 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 sale, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Justine Page sold 110 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the sale, the insider now owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 over the last three months. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent research reports. Oppenheimer reissued an “outperform” rating and set a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Susquehanna lifted their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus 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.