Cornerstone Wealth Management LLC Increases Stock Holdings in Broadcom Inc. $AVGO

Cornerstone Wealth Management LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 18,570 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,569 shares during the period. Cornerstone Wealth Management LLC’s holdings in Broadcom were worth $6,427,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Miller Global Investments LLC purchased a new position in shares of Broadcom in the 4th quarter valued at about $31,000. JCIC Asset Management Inc. acquired a new stake in shares of Broadcom during the 3rd quarter worth about $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom during the 4th quarter worth about $33,000. Family CFO Inc acquired a new position in Broadcom during the fourth quarter worth approximately $35,000. Finally, Manning & Napier Advisors LLC acquired a new position in Broadcom during the third quarter worth approximately $34,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 50,488 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the sale, the insider directly owned 278,141 shares in the company, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 36,292 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the sale, the chief financial officer owned 327,760 shares in the company, valued at $105,407,616. The trade was a 9.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 324,282 shares of company stock worth $106,425,249. Company insiders own 1.90% of the company’s stock.

Broadcom Price Performance

AVGO stock opened at $411.07 on Wednesday. The stock has a 50-day moving average price of $368.97 and a two-hundred day moving average price of $355.08. Broadcom Inc. has a 12-month low of $226.18 and a 12-month high of $442.36. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. The company has a market cap of $1.95 trillion, a PE ratio of 80.29, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. During the same quarter in the prior year, the business earned $1.60 earnings per share. The company’s revenue was up 29.5% compared to the same quarter last year. As a group, research analysts predict that Broadcom Inc. will post 9.97 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom’s dividend payout ratio is currently 50.78%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom renewed its long-running technology partnership with LSEG in a new five-year agreement centered on VMware Cloud Foundation, expanding Broadcom’s role in LSEG’s private cloud infrastructure and adding professional services revenue potential. LSEG renews Broadcom partnership to expand cloud infrastructure strategy (AVGO)
• Positive Sentiment: Wall Street remains bullish on AVGO, with recent analyst updates and price targets pointing to confidence in Broadcom’s AI-driven growth and leadership in semiconductor and infrastructure software. Wall Street sets Broadcom stock price target for next 12 months
• Neutral Sentiment: Recent coverage continues to highlight Broadcom as a major AI infrastructure beneficiary, with analysts favoring AVGO over some peers because of its strong AI revenue growth and broad demand trends. ALAB vs. AVGO: Which AI Infrastructure Stock Is the Better Buy Now?
• Neutral Sentiment: Broader market commentary and stock-search interest have kept AVGO in the spotlight, but these items do not point to a direct fundamental change. Investors Heavily Search Broadcom Inc. (AVGO): Here is What You Need to Know
• Negative Sentiment: AVGO had recently been trading lower at times, reflecting some profit-taking even as the longer-term story remains tied to AI and enterprise software growth. Broadcom Inc. (AVGO) Declines More Than Market: Some Information for Investors

Analyst Ratings Changes

Several brokerages have weighed in on AVGO. Erste Group Bank downgraded Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Wolfe Research upgraded Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price target on the stock in a research note on Friday, January 30th. UBS Group reiterated a “buy” rating and set a $490.00 target price (up from $475.00) on shares of Broadcom in a research report on Monday. Zacks Research upgraded Broadcom from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Finally, Bank of America cut their price target on Broadcom from $500.00 to $450.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $448.10.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.