Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Boosted by Clearstead Trust LLC

Clearstead Trust LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 34.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,647 shares of the semiconductor manufacturer’s stock after buying an additional 672 shares during the period. Broadcom accounts for 0.8% of Clearstead Trust LLC’s portfolio, making the stock its 25th biggest holding. Clearstead Trust LLC’s holdings in Broadcom were worth $2,955,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stuart Chaussee & Associates Inc. bought a new position in Broadcom in the 4th quarter valued at about $25,000. PSI Advisors LLC lifted its holdings in Broadcom by 66.7% in the 4th 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 last quarter. Macroview Investment Management LLC acquired a new stake in Broadcom in the 3rd quarter valued at about $29,000. BKM Wealth Management LLC acquired a new stake in Broadcom in the 4th quarter valued at about $29,000. Finally, CKW Financial Group acquired a new stake in Broadcom in the 4th quarter valued at about $30,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 5,000 shares of the 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 value of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the 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 transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now owns 45 shares in the company, valued at approximately $62,465.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 3.2 %

Shares of NASDAQ AVGO traded up $39.54 during mid-day trading on Friday, reaching $1,278.11. The company had a trading volume of 2,489,755 shares, compared to its average volume of 2,435,058. The stock has a fifty day moving average of $1,308.66 and a two-hundred day moving average of $1,147.78. 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 company has a market capitalization of $592.30 billion, a price-to-earnings ratio of 47.37, a PEG ratio of 2.52 and a beta of 1.25. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17.

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

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. 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 1.64%. Broadcom’s dividend payout ratio is currently 77.84%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AVGO. Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. Evercore ISI initiated coverage on shares of Broadcom in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Finally, Mizuho upped their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Broadcom currently 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.