Broadcom Inc. (NASDAQ:AVGO) is Nicholson Wealth Management Group LLC’s 9th Largest Position

Nicholson Wealth Management Group LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 329.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,293 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,361 shares during the period. Broadcom makes up 1.3% of Nicholson Wealth Management Group LLC’s portfolio, making the stock its 9th biggest position. Nicholson Wealth Management Group LLC’s holdings in Broadcom were worth $1,923,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AVGO. Cromwell Holdings LLC increased its stake in shares of Broadcom by 1.3% in the fourth quarter. Cromwell Holdings LLC now owns 11,465 shares of the semiconductor manufacturer’s stock worth $2,658,000 after acquiring an additional 145 shares during the last quarter. Prakash Investment Advisors LLC acquired a new position in shares of Broadcom in the fourth quarter worth $2,416,000. Parcion Private Wealth LLC increased its stake in shares of Broadcom by 0.5% in the fourth quarter. Parcion Private Wealth LLC now owns 94,228 shares of the semiconductor manufacturer’s stock worth $21,846,000 after acquiring an additional 464 shares during the last quarter. O Brien Greene & Co. Inc increased its stake in shares of Broadcom by 8.4% in the fourth quarter. O Brien Greene & Co. Inc now owns 3,252 shares of the semiconductor manufacturer’s stock worth $754,000 after acquiring an additional 252 shares during the last quarter. Finally, Boston Financial Mangement LLC increased its stake in shares of Broadcom by 2.4% in the fourth quarter. Boston Financial Mangement LLC now owns 78,476 shares of the semiconductor manufacturer’s stock worth $18,194,000 after acquiring an additional 1,861 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AVGO shares. Susquehanna upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Bank of America increased their target price on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Barclays increased their target price on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Stock Down 3.6 %

AVGO stock opened at $218.61 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a 50-day moving average of $230.09 and a two-hundred day moving average of $190.11. The stock has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 178.32, a price-to-earnings-growth ratio of 2.37 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last released 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 net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the company earned $0.98 earnings per share. The firm’s revenue was up 51.2% on a year-over-year basis. As a group, equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Insider Activity at Broadcom

In related news, Director Harry L. You sold 6,540 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,278 shares of company stock worth $44,964,800. 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.