Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by WMG Financial Advisors LLC

WMG Financial Advisors LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 4.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,420 shares of the semiconductor manufacturer’s stock after buying an additional 359 shares during the quarter. Broadcom comprises about 0.8% of WMG Financial Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. WMG Financial Advisors LLC’s holdings in Broadcom were worth $1,952,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Steward Partners Investment Advisory LLC lifted its position in shares of Broadcom by 5.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 608,038 shares of the semiconductor manufacturer’s stock worth $140,968,000 after purchasing an additional 33,603 shares during the last quarter. Global Strategic Investment Solutions LLC lifted its position in shares of Broadcom by 1.5% during the 4th quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer’s stock worth $782,000 after purchasing an additional 50 shares during the last quarter. Unified Investment Management purchased a new stake in shares of Broadcom during the 4th quarter worth $747,000. Bravias Capital Group LLC purchased a new stake in shares of Broadcom during the 4th quarter worth $250,000. Finally, Gryphon Financial Partners LLC lifted its position in shares of Broadcom by 1.8% during the 4th quarter. Gryphon Financial Partners LLC now owns 22,898 shares of the semiconductor manufacturer’s stock worth $5,309,000 after purchasing an additional 401 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the transaction, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AVGO. Truist Financial lifted 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. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Susquehanna boosted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, UBS Group boosted their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Trading Down 6.0 %

Shares of Broadcom stock opened at $187.37 on Tuesday. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company’s 50-day simple moving average is $226.54 and its 200-day simple moving average is $192.50. The firm has a market cap of $878.27 billion, a price-to-earnings ratio of 152.83, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the business posted $0.98 earnings per share. The business’s revenue was up 51.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.26%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 191.87%.

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.