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

Red Door Wealth Management LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 84.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,422 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,943 shares during the quarter. Red Door Wealth Management LLC’s holdings in Broadcom were worth $1,489,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Central Pacific Bank Trust Division lifted its holdings in shares of Broadcom by 21.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after purchasing an additional 3,707 shares during the last quarter. Strait & Sound Wealth Management LLC increased its position in Broadcom by 829.8% during 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 during the period. Catalyst Financial Partners LLC boosted its holdings in shares of Broadcom by 943.3% in 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 period. Whittier Trust Co. increased its holdings in shares of Broadcom by 947.2% in the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after acquiring an additional 623,983 shares during the period. Finally, Tidal Investments LLC raised its position in Broadcom by 969.3% in the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock valued at $66,696,000 after purchasing an additional 350,485 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 1.8 %

AVGO stock opened at $244.70 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. The company’s 50 day simple moving average is $208.80 and its 200-day simple moving average is $180.62. Broadcom Inc. has a 12 month low of $117.43 and a 12 month high of $251.88. The firm has a market capitalization of $1.15 trillion, a PE ratio of 199.59, a P/E/G ratio of 2.52 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS 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 firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.96%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is 192.50%.

Insiders Place Their Bets

In related news, 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 transaction of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AVGO shares. Truist Financial raised their price objective on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Robert W. Baird upped their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Benchmark reissued a “buy” rating and issued a $255.00 target price (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $225.83.

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.