Blue Bell Private Wealth Management LLC Buys 15 Shares of Broadcom Inc. (NASDAQ:AVGO)

Blue Bell Private Wealth Management LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 14.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117 shares of the semiconductor manufacturer’s stock after purchasing an additional 15 shares during the period. Blue Bell Private Wealth Management LLC’s holdings in Broadcom were worth $131,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. RMR Wealth Builders raised its position in Broadcom by 6.5% in the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock worth $5,284,000 after purchasing an additional 388 shares in the last quarter. Czech National Bank raised its position in Broadcom by 46.1% in the third quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock worth $59,909,000 after purchasing an additional 22,774 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Broadcom in the second quarter worth about $4,684,000. CI Investments Inc. raised its position in Broadcom by 89.4% in the third quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock worth $114,221,000 after purchasing an additional 64,912 shares in the last quarter. Finally, NatWest Group plc increased its holdings in shares of Broadcom by 8.2% during the fourth quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer’s stock worth $9,263,000 after buying an additional 631 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the sale, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,310 shares of company stock valued at $32,840,567. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AVGO. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. UBS Group raised their price objective on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Citigroup reissued a “buy” rating and issued a $1,100.00 price target on shares of Broadcom in a report on Monday, December 11th. Finally, Mizuho raised their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,255.18.

Broadcom Trading Up 0.3 %

Shares of NASDAQ AVGO opened at $1,343.00 on Monday. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company’s fifty day moving average is $1,289.24 and its 200-day moving average is $1,088.71. The stock has a market cap of $622.37 billion, a price-to-earnings ratio of 49.65, a P/E/G ratio of 2.86 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period last year, the business posted $9.83 earnings per share. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. Equities research analysts predict that Broadcom Inc. will post 36.31 EPS for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

About Broadcom

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.