Activest Wealth Management Has $240,000 Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Activest Wealth Management increased its position in Broadcom Inc. (NASDAQ:AVGO) by 22.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,036 shares of the semiconductor manufacturer’s stock after purchasing an additional 190 shares during the quarter. Activest Wealth Management’s holdings in Broadcom were worth $240,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Financial Strategies LLC lifted its stake in shares of Broadcom by 19.5% in the 4th quarter. Legacy Financial Strategies LLC now owns 1,635 shares of the semiconductor manufacturer’s stock valued at $379,000 after purchasing an additional 267 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Broadcom by 4.2% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 21,880 shares of the semiconductor manufacturer’s stock valued at $5,073,000 after purchasing an additional 884 shares during the last quarter. Washburn Capital Management Inc. lifted its stake in Broadcom by 63.5% in the fourth quarter. Washburn Capital Management Inc. now owns 3,491 shares of the semiconductor manufacturer’s stock valued at $809,000 after buying an additional 1,356 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in Broadcom by 8.1% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 30,072 shares of the semiconductor manufacturer’s stock worth $6,972,000 after buying an additional 2,263 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in shares of Broadcom by 0.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 215,009 shares of the semiconductor manufacturer’s stock worth $49,848,000 after buying an additional 751 shares during the period. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on AVGO shares. Piper Sandler lifted 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. Citigroup lifted their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Barclays raised their price objective on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft boosted their target price on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, UBS Group raised their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Broadcom Stock Performance

AVGO opened at $236.35 on Thursday. The business’s 50-day simple moving average is $222.47 and its 200 day simple moving average is $185.75. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a market capitalization of $1.11 trillion, a PE ratio of 192.78, a PEG 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 earnings per share (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 company had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue was up 51.2% compared to the same quarter last year. As a group, 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. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Insider Transactions at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction dated 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 in the company, 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. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last ninety days. Insiders own 2.00% of the company’s stock.

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.