Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Accurate Wealth Management LLC

Accurate Wealth Management LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.8% during the 4th quarter, HoldingsChannel reports. The firm owned 18,743 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,194 shares during the period. Broadcom accounts for approximately 0.8% of Accurate Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Accurate Wealth Management LLC’s holdings in Broadcom were worth $4,206,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Castleview Partners LLC grew 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 worth $25,000 after buying an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. grew its stake in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. JDM Financial Group LLC increased its holdings in shares of Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the period. Tsfg LLC raised its stake in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares during the last quarter. Finally, Cedar Wealth Management LLC lifted its holdings in shares of Broadcom by 900.0% during the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after purchasing an additional 216 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Up 1.5 %

Broadcom stock opened at $228.00 on Thursday. The stock has a 50-day moving average price of $199.05 and a 200 day moving average price of $176.63. Broadcom Inc. has a 52 week low of $109.02 and a 52 week high of $251.88. The stock has a market cap of $1.07 trillion, a PE ratio of 198.09, a P/E/G ratio of 2.15 and a beta of 1.03. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. Equities research analysts predict that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 191.87%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AVGO shares. Rosenblatt Securities restated a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. Robert W. Baird increased their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Jefferies Financial Group lifted their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Evercore ISI increased their target price on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, TD Cowen lifted their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $223.54.

Insider Transactions at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 over the last quarter. 2.00% of the stock is currently owned by insiders.

Broadcom Company 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.