BetterWealth LLC Has $672,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

BetterWealth LLC grew its position in Broadcom Inc. (NASDAQ:AVGOFree Report) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 602 shares of the semiconductor manufacturer’s stock after purchasing an additional 9 shares during the quarter. BetterWealth LLC’s holdings in Broadcom were worth $672,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. StrategIQ Financial Group LLC acquired a new position in shares of Broadcom during the fourth quarter worth $256,000. Venturi Wealth Management LLC increased its holdings in shares of Broadcom by 61.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,970 shares of the semiconductor manufacturer’s stock worth $3,315,000 after buying an additional 1,130 shares in the last quarter. Integrated Investment Consultants LLC increased its holdings in shares of Broadcom by 3.7% during the fourth quarter. Integrated Investment Consultants LLC now owns 454 shares of the semiconductor manufacturer’s stock worth $507,000 after buying an additional 16 shares in the last quarter. Baker Ellis Asset Management LLC acquired a new position in shares of Broadcom during the fourth quarter worth $4,601,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its holdings in shares of Broadcom by 17.6% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 654 shares of the semiconductor manufacturer’s stock worth $730,000 after buying an additional 98 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Up 2.2 %

Shares of AVGO traded up $28.83 on Wednesday, hitting $1,367.59. 511,315 shares of the stock traded hands, compared to its average volume of 3,024,101. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $633.77 billion, a P/E ratio of 49.62, a P/E/G ratio of 2.85 and a beta of 1.25. The stock’s 50 day moving average is $1,282.61 and its two-hundred day moving average is $1,078.22. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17.

Broadcom (NASDAQ:AVGOGet Free Report) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s revenue was up 34.2% on a year-over-year basis. During the same period last year, the business earned $9.83 EPS. As a group, sell-side analysts predict that Broadcom Inc. will post 36.8 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AVGO. Cantor Fitzgerald increased their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. Truist Financial increased their price target on Broadcom from $995.00 to $1,015.00 and gave the stock a “buy” rating in a report on Friday, December 8th. Susquehanna increased their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Finally, Mizuho raised their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,230.18.

Check Out Our Latest Report on AVGO

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the transaction, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the sale, the chief financial officer now directly owns 26,880 shares in the company, valued at approximately $28,039,603.20. The disclosure for this sale can be found here. Insiders have sold a total of 22,310 shares of company stock valued at $29,405,117 in the last three months. Company insiders own 2.00% of the company’s stock.

About Broadcom

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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