Moss Adams Wealth Advisors LLC Has $1.46 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Moss Adams Wealth Advisors LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 56.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,306 shares of the semiconductor manufacturer’s stock after acquiring an additional 473 shares during the quarter. Broadcom comprises 0.3% of Moss Adams Wealth Advisors LLC’s investment portfolio, making the stock its 29th biggest position. Moss Adams Wealth Advisors LLC’s holdings in Broadcom were worth $1,460,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AVGO. Crestone Asset Management LLC boosted its holdings in Broadcom by 20.2% in the 4th quarter. Crestone Asset Management LLC now owns 304 shares of the semiconductor manufacturer’s stock valued at $339,000 after purchasing an additional 51 shares during the period. Patrick M Sweeney & Associates Inc. acquired a new stake in Broadcom during the fourth quarter worth approximately $505,000. Palisade Asset Management LLC bought a new position in Broadcom during the 4th quarter worth $317,000. Simmons Bank raised its holdings in Broadcom by 0.9% in the 4th quarter. Simmons Bank now owns 1,704 shares of the semiconductor manufacturer’s stock valued at $1,902,000 after acquiring an additional 15 shares in the last quarter. Finally, Centric Wealth Management lifted its position in shares of Broadcom by 1.6% during the 4th quarter. Centric Wealth Management now owns 579 shares of the semiconductor manufacturer’s stock valued at $646,000 after acquiring an additional 9 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of analyst reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research note on Thursday, March 21st. UBS Group boosted their target price on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Mizuho increased their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Susquehanna upped their target price on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Finally, Evercore ISI started coverage on Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price target on the stock. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Buying and Selling

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

Broadcom Trading Up 1.7 %

AVGO traded up $22.26 during trading on Wednesday, reaching $1,325.37. 1,391,012 shares of the company’s stock were exchanged, compared to its average volume of 2,855,330. 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 one year low of $615.86 and a one year high of $1,438.17. The firm has a fifty day moving average price of $1,308.82 and a two-hundred day moving average price of $1,157.75. The stock has a market capitalization of $614.20 billion, a PE ratio of 49.12, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Broadcom’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the business posted $9.83 earnings per share. As a group, equities research analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given 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 dividend yield of 1.58%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

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.