BetterWealth LLC Acquires Shares of 1,056 Broadcom Inc. (NASDAQ:AVGO)

BetterWealth LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,056 shares of the semiconductor manufacturer’s stock, valued at approximately $245,000.

Other large investors have also modified their holdings of the company. Park National Corp OH raised its holdings in shares of Broadcom by 857.0% during the 3rd quarter. Park National Corp OH now owns 10,938 shares of the semiconductor manufacturer’s stock worth $1,887,000 after acquiring an additional 9,795 shares during the period. AMF Tjanstepension AB raised its stake in Broadcom by 856.9% during the third quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock worth $175,101,000 after purchasing an additional 908,585 shares during the period. Czech National Bank boosted its holdings in Broadcom by 1,042.3% in the 3rd quarter. Czech National Bank now owns 948,249 shares of the semiconductor manufacturer’s stock valued at $163,573,000 after purchasing an additional 865,238 shares during the last quarter. Silvia Mccoll Wealth Management LLC grew its stake in shares of Broadcom by 900.0% in the 3rd quarter. Silvia Mccoll Wealth Management LLC now owns 5,470 shares of the semiconductor manufacturer’s stock valued at $944,000 after buying an additional 4,923 shares during the period. Finally, Curbstone Financial Management Corp increased its holdings in shares of Broadcom by 900.0% during the 3rd quarter. Curbstone Financial Management Corp now owns 5,440 shares of the semiconductor manufacturer’s stock worth $938,000 after buying an additional 4,896 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was 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 in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Up 2.6 %

NASDAQ AVGO opened at $221.27 on Friday. The firm’s fifty day moving average price is $212.27 and its 200 day moving average price is $181.58. Broadcom Inc. has a 12 month low of $117.43 and a 12 month high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 180.48, a price-to-earnings-growth ratio of 2.16 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) 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 company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the company posted $0.98 earnings per share. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid 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 1.07%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 192.50%.

Analyst Ratings Changes

A number of research firms have commented on AVGO. Cantor Fitzgerald lifted their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Jefferies Financial Group upped their target price 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. Deutsche Bank Aktiengesellschaft lifted 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. Barclays upped their price objective on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Mizuho lifted their target price on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. 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.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Company 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.