SMART Wealth LLC Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

SMART Wealth LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 210.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,918 shares of the semiconductor manufacturer’s stock after purchasing an additional 8,078 shares during the quarter. Broadcom comprises about 1.0% of SMART Wealth LLC’s investment portfolio, making the stock its 29th largest position. SMART Wealth LLC’s holdings in Broadcom were worth $2,763,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Central Pacific Bank Trust Division lifted its position in Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after buying an additional 3,707 shares during the last quarter. Wolff Financial Management LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at $244,000. Strait & Sound Wealth Management LLC lifted its holdings in shares of Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after acquiring an additional 7,095 shares during the last quarter. Catalyst Financial Partners LLC boosted its stake in shares of Broadcom by 943.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares during the period. Finally, Motive Wealth Advisors grew its holdings in Broadcom by 1,076.5% during the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after purchasing an additional 4,209 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 4.5 %

Shares of NASDAQ AVGO opened at $235.04 on Tuesday. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The business has a fifty day moving average price of $219.76 and a 200 day moving average price of $184.56. The stock has a market capitalization of $1.10 trillion, a P/E ratio of 191.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. The company’s quarterly revenue was up 51.2% on a year-over-year basis. Equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. 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 1.00%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is currently 192.50%.

Insider Transactions at Broadcom

In other news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at $76,809,191.40. The trade was a 5.90 % 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 valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Piper Sandler raised their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Mizuho raised their price target on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Robert W. Baird upped their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.