FFT Wealth Management LLC Acquires 1,051 Shares of Broadcom Inc. (NASDAQ:AVGO)

FFT Wealth Management LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 41.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,594 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,051 shares during the period. FFT Wealth Management LLC’s holdings in Broadcom were worth $833,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. KFA Private Wealth Group LLC boosted its stake in Broadcom by 2.5% in the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after purchasing an additional 42 shares during the period. Dakota Community Bank & Trust NA lifted its holdings in shares of Broadcom by 2.7% in the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after buying an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC boosted its position in shares of Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after acquiring an additional 45 shares during the last quarter. Marest Capital LLC grew its stake in Broadcom by 1.0% during the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after acquiring an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC increased its holdings in Broadcom by 0.4% in the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after acquiring an additional 47 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

AVGO opened at $212.94 on Thursday. The business has a fifty day moving average of $228.28 and a 200 day moving average of $191.46. The stock has a market cap of $998.13 billion, a P/E ratio of 173.69, a PEG ratio of 2.29 and a beta of 1.02. 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.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business’s revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 earnings per share. As a group, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current 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 paid a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is currently 191.87%.

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 stock was 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 in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their position. 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. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research reports. Jefferies Financial Group increased their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Robert W. Baird boosted their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Truist Financial upped their price objective on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Piper Sandler increased their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.