U.S. Capital Wealth Advisors LLC Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

U.S. Capital Wealth Advisors LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 114.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,410 shares of the semiconductor manufacturer’s stock after acquiring an additional 47,700 shares during the period. Broadcom makes up 0.6% of U.S. Capital Wealth Advisors LLC’s investment portfolio, making the stock its 24th largest position. U.S. Capital Wealth Advisors LLC’s holdings in Broadcom were worth $20,729,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Central Pacific Bank Trust Division lifted its stake in Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares during the last quarter. Wolff Financial Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at about $244,000. Strait & Sound Wealth Management LLC boosted its stake in Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after buying an additional 7,095 shares in the last quarter. Catalyst Financial Partners LLC grew its position in Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after acquiring an additional 18,206 shares during the last quarter. Finally, Motive Wealth Advisors raised its stake in shares of Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after acquiring an additional 4,209 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $222.43 on Wednesday. The firm’s 50-day simple moving average is $214.47 and its two-hundred day simple moving average is $182.60. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The stock has a market cap of $1.04 trillion, a PE ratio of 181.43, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. Analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

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

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research reports. TD Cowen upped their price objective on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Piper Sandler raised their price objective on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Morgan Stanley lowered their target price on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Benchmark restated a “buy” rating and set a $255.00 price target (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, Citigroup boosted their price objective on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Insider Buying and Selling at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction 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 trade represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

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.