Peterson Wealth Services Has $13 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Peterson Wealth Services grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,087 shares of the semiconductor manufacturer’s stock after buying an additional 315 shares during the period. Broadcom makes up about 3.9% of Peterson Wealth Services’ holdings, making the stock its 6th biggest holding. Peterson Wealth Services’ holdings in Broadcom were worth $13,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in AVGO. Axecap Investments LLC boosted its holdings in shares of Broadcom by 6.4% in the 4th quarter. Axecap Investments LLC now owns 24,663 shares of the semiconductor manufacturer’s stock worth $5,718,000 after purchasing an additional 1,490 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in Broadcom in the 4th quarter worth approximately $172,000. Mill Creek Capital Advisors LLC boosted its stake in Broadcom by 36.6% in the fourth quarter. Mill Creek Capital Advisors LLC now owns 8,304 shares of the semiconductor manufacturer’s stock worth $1,925,000 after buying an additional 2,224 shares in the last quarter. Summit Trail Advisors LLC grew its position in Broadcom by 1.7% during the fourth quarter. Summit Trail Advisors LLC now owns 677,992 shares of the semiconductor manufacturer’s stock valued at $157,186,000 after acquiring an additional 11,370 shares during the last quarter. Finally, Sapient Capital LLC raised its stake in shares of Broadcom by 1.9% during the fourth quarter. Sapient Capital LLC now owns 698,182 shares of the semiconductor manufacturer’s stock worth $161,867,000 after acquiring an additional 13,245 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 0.2 %

AVGO opened at $235.80 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The stock has a market cap of $1.11 trillion, a PE ratio of 192.33, a PEG ratio of 2.42 and a beta of 1.02. The business has a 50 day moving average of $223.78 and a 200-day moving average of $186.10.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. Equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 192.50%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AVGO shares. Mizuho increased 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. Morgan Stanley lowered their target price on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. UBS Group increased their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Buying and Selling at Broadcom

In related news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the sale, the director now owns 6,460 shares in the company, valued at $1,464,352.80. This represents a 69.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction 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 transaction, the director now 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. Over the last quarter, insiders sold 191,278 shares of company stock valued at $44,964,800. Corporate 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.