Baker Tilly Wealth Management LLC Buys 201 Shares of Broadcom Inc. (NASDAQ:AVGO)

Baker Tilly Wealth Management LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,188 shares of the semiconductor manufacturer’s stock after acquiring an additional 201 shares during the quarter. Broadcom accounts for 0.7% of Baker Tilly Wealth Management LLC’s portfolio, making the stock its 28th largest position. Baker Tilly Wealth Management LLC’s holdings in Broadcom were worth $1,898,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Castleview Partners LLC grew its stake 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 buying an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. grew its position in 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 acquiring an additional 135 shares during the last quarter. JDM Financial Group LLC increased its stake in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the period. Tsfg LLC lifted its position 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 boosted its stake 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 valued at $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 Stock Performance

AVGO traded down $4.60 during trading on Friday, reaching $224.71. 7,590,068 shares of the company’s stock were exchanged, compared to its average volume of 23,586,682. The company’s fifty day simple moving average is $195.79 and its 200-day simple moving average is $175.31. The stock has a market capitalization of $1.05 trillion, a P/E ratio of 195.23, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a 1 year low of $107.45 and a 1 year high of $251.88.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company 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 firm’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. As a group, research analysts predict that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. Broadcom’s dividend payout ratio is presently 191.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AVGO shares. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Jefferies Financial Group boosted their price target on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Bank of America raised their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Evercore ISI upped their target price on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Truist Financial lifted their price objective on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $221.88.

Insider Activity at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the sale, the chief executive officer now owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 187,278 shares of company stock worth $44,046,240. 2.00% of the stock is owned by corporate 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.