Wealthspire Advisors LLC Purchases 2,387 Shares of Broadcom Inc. (NASDAQ:AVGO)

Wealthspire Advisors LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,508 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,387 shares during the quarter. Wealthspire Advisors LLC’s holdings in Broadcom were worth $9,623,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. TCW Group Inc. boosted its holdings in Broadcom by 15.2% in the 4th quarter. TCW Group Inc. now owns 1,112,693 shares of the semiconductor manufacturer’s stock worth $257,967,000 after buying an additional 146,648 shares during the period. FPC Investment Advisory Inc. lifted its position in shares of Broadcom by 6.5% during the fourth quarter. FPC Investment Advisory Inc. now owns 5,263 shares of the semiconductor manufacturer’s stock worth $1,165,000 after acquiring an additional 323 shares in the last quarter. JBR Co Financial Management Inc boosted its holdings in shares of Broadcom by 3.2% in the fourth quarter. JBR Co Financial Management Inc now owns 1,937 shares of the semiconductor manufacturer’s stock worth $449,000 after acquiring an additional 60 shares during the period. First Horizon Advisors Inc. grew its position in shares of Broadcom by 3.3% in the fourth quarter. First Horizon Advisors Inc. now owns 257,685 shares of the semiconductor manufacturer’s stock valued at $59,742,000 after purchasing an additional 8,296 shares in the last quarter. Finally, Pinnacle Financial Partners Inc raised its stake in shares of Broadcom by 29.8% during the 4th quarter. Pinnacle Financial Partners Inc now owns 24,347 shares of the semiconductor manufacturer’s stock valued at $5,544,000 after purchasing an additional 5,583 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AVGO. Morgan Stanley cut their target price on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Citigroup boosted their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Mizuho increased their target price on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Jefferies Financial Group boosted their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Susquehanna upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Trading Down 4.9 %

Shares of AVGO opened at $207.93 on Tuesday. The stock has a market capitalization of $974.64 billion, a P/E ratio of 169.60, a PEG ratio of 2.37 and a beta of 1.02. The firm has a fifty day simple moving average of $229.25 and a two-hundred day simple moving average of $190.93. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. 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 business posted $0.98 EPS. The business’s revenue was up 51.2% on a year-over-year basis. On average, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared 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 1.13%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Insider Buying and Selling

In related news, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now owns 113,050 shares in the company, valued at $26,606,317.50. The trade was a 29.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the sale, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. The trade was a 69.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 over the last quarter. Corporate 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.