Horst & Graben Wealth Management LLC Takes Position in Broadcom Inc. (NASDAQ:AVGO)

Horst & Graben Wealth Management LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,343 shares of the semiconductor manufacturer’s stock, valued at approximately $775,000.

Other hedge funds have also modified their holdings of the company. Castleview Partners LLC lifted its holdings in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its position in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares during the period. Retirement Wealth Solutions LLC acquired a new position in Broadcom during the fourth quarter valued at $37,000. R Squared Ltd acquired a new position in Broadcom during the fourth quarter valued at $39,000. Finally, JDM Financial Group LLC raised its position in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $222.43 on Wednesday. The business has a 50 day moving average price of $214.47 and a 200 day moving average price of $182.60. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company has a market cap of $1.04 trillion, a price-to-earnings ratio of 181.43, a PEG ratio of 2.31 and a beta of 1.02. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. Research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.06%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent analyst reports. TD Cowen upped their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. upped their price target on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Bank of America upped their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Mizuho upped their price target on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, Citigroup upped their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

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.