Western Wealth Management LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,500 shares of the semiconductor manufacturer’s stock after purchasing an additional 207 shares during the quarter. Broadcom accounts for about 0.8% of Western Wealth Management LLC’s portfolio, making the stock its 20th biggest position. Western Wealth Management LLC’s holdings in Broadcom were worth $11,721,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Macroview Investment Management LLC purchased a new stake in shares of Broadcom during the third quarter valued at approximately $29,000. BKM Wealth Management LLC bought a new position in Broadcom during the fourth quarter valued at $29,000. CKW Financial Group bought a new position in shares of Broadcom in the fourth quarter worth $30,000. VitalStone Financial LLC boosted its holdings in shares of Broadcom by 71.4% in the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after acquiring an additional 25 shares during the period. Finally, Rise Advisors LLC boosted its holdings in shares of Broadcom by 33.3% in the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after acquiring an additional 10 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.
Broadcom Trading Down 1.8 %
Shares of AVGO traded down $23.64 during trading hours 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 P/E/G ratio of 2.71 and a beta of 1.25. The stock’s 50 day moving average price is $1,307.00 and its 200 day moving average price is $1,115.19. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17.
Broadcom Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date of this dividend 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 is presently 77.84%.
Analyst Ratings Changes
A number of equities analysts have recently commented on AVGO shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. TD Cowen raised 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. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Benchmark reissued a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, UBS Group lifted their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.
Get Our Latest Analysis on AVGO
Insider Activity at Broadcom
In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Justine Page sold 110 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 in the last 90 days. Company insiders own 2.00% of the company’s stock.
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.
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