IVC Wealth Advisors LLC Purchases 199 Shares of Broadcom Inc. (NASDAQ:AVGO)

IVC Wealth Advisors LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 8.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,596 shares of the semiconductor manufacturer’s stock after buying an additional 199 shares during the period. IVC Wealth Advisors LLC’s holdings in Broadcom were worth $602,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Central Pacific Bank Trust Division raised its holdings in shares of Broadcom by 21.5% during the fourth 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 period. Strait & Sound Wealth Management LLC raised its stake in Broadcom by 829.8% during the 3rd 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 Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after acquiring an additional 18,206 shares in the last quarter. Whittier Trust Co. grew its stake in Broadcom by 947.2% in the third 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 grew its stake in Broadcom by 969.3% in the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock valued at $66,696,000 after acquiring an additional 350,485 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Up 1.8 %

AVGO stock opened at $244.70 on Friday. The stock has a fifty day moving average of $208.80 and a 200-day moving average of $180.62. Broadcom Inc. has a fifty-two week low of $117.43 and a fifty-two week high of $251.88. The company has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 199.59, a PEG ratio of 2.52 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last issued 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 net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the business earned $0.98 earnings per share. The company’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. 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 0.96%. Broadcom’s payout ratio is presently 192.50%.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of Broadcom 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 directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last three months. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AVGO shares. Bank of America increased their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and set a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Mizuho lifted their price target on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Finally, Benchmark reissued a “buy” rating and issued a $255.00 price objective (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.83.

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.