Financial Advocates Investment Management Has $4.52 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Financial Advocates Investment Management increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,509 shares of the semiconductor manufacturer’s stock after buying an additional 1,788 shares during the period. Financial Advocates Investment Management’s holdings in Broadcom were worth $4,523,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AVGO. Castleview Partners LLC boosted its position 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 worth $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. raised its stake in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares during the period. Retirement Wealth Solutions LLC bought a new position in Broadcom during the fourth quarter worth about $37,000. R Squared Ltd acquired a new position in Broadcom in the fourth quarter valued at about $39,000. Finally, JDM Financial Group LLC increased its holdings in shares of 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 acquiring an additional 172 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the sale, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $224.87 on Monday. The stock has a 50 day simple moving average of $219.76 and a 200 day simple moving average of $184.32. The stock has a market cap of $1.05 trillion, a P/E ratio of 183.42, a PEG ratio of 2.42 and a beta of 1.02. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping 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 company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The company’s revenue was up 51.2% on a year-over-year basis. Research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.05%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 192.50%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AVGO shares. Mizuho lifted their price objective on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Susquehanna lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. Piper Sandler boosted their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group increased their target price on Broadcom from $205.00 to $225.00 and gave the stock 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 given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.04.

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.