Sanchez Wealth Management Group Acquires New Position in Broadcom Inc. (NASDAQ:AVGO)

Sanchez Wealth Management Group bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,105 shares of the semiconductor manufacturer’s stock, valued at approximately $256,000.

Other hedge funds have also bought and sold shares of the company. Santori & Peters Inc. bought a new position in Broadcom in the 4th quarter valued at $229,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of Broadcom by 30.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 73,291 shares of the semiconductor manufacturer’s stock worth $16,992,000 after acquiring an additional 17,233 shares during the last quarter. Arlington Financial Advisors LLC purchased a new position in Broadcom in the fourth quarter worth $290,000. Kingsview Wealth Management LLC boosted its holdings in shares of Broadcom by 14.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 111,802 shares of the semiconductor manufacturer’s stock worth $25,920,000 after purchasing an additional 13,933 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its holdings in shares of Broadcom by 2.9% during the 4th quarter. Apollon Wealth Management LLC now owns 210,026 shares of the semiconductor manufacturer’s stock valued at $48,692,000 after buying an additional 5,879 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on AVGO shares. Susquehanna upped their price objective 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. Morgan Stanley reduced their price target on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Barclays upped their price target on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group upped their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $225.04.

Insider Buying and Selling

In related news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $235.04 on Wednesday. Broadcom Inc. has a 1-year low of $119.76 and a 1-year 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 stock’s 50 day simple moving average is $221.13 and its 200-day simple moving average is $185.16. The company has a market cap of $1.10 trillion, a PE ratio of 191.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS 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 firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the business posted $0.98 earnings per share. The firm’s revenue was up 51.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given 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 1.00%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 192.50%.

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.