BetterWealth LLC Has $672,000 Stock Position 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 and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC grew its stake in Broadcom by 33.3% in the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after buying an additional 10 shares in the last quarter. CX Institutional boosted its holdings in Broadcom by 0.8% in the 4th quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after purchasing an additional 10 shares during the period. Cascade Investment Group Inc. lifted its holdings in shares of Broadcom by 1.7% during the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock worth $680,000 after acquiring an additional 10 shares during the last quarter. Greenwood Gearhart Inc. lifted its holdings in shares of Broadcom by 2.0% during the 3rd quarter. Greenwood Gearhart Inc. now owns 549 shares of the semiconductor manufacturer’s stock worth $456,000 after acquiring an additional 11 shares during the last quarter. Finally, WBH Advisory Inc. lifted its holdings in shares of Broadcom by 3.0% during the 3rd quarter. WBH Advisory Inc. now owns 412 shares of the semiconductor manufacturer’s stock worth $342,000 after acquiring an additional 12 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In other news, CFO Kirsten M. Spears sold 2,500 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the transaction, the chief financial officer now owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Kirsten M. Spears sold 2,500 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 26,880 shares in the company, valued at $28,039,603.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The disclosure for this sale can be found here. Insiders have sold 22,310 shares of company stock valued at $29,405,117 over the last 90 days. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

AVGO stock traded up $28.83 during trading on Wednesday, hitting $1,367.59. The company had a trading volume of 511,315 shares, compared to its average volume of 3,024,101. The company has a fifty day moving average price of $1,282.61 and a two-hundred day moving average price of $1,078.22. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The company has a market cap 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. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17.

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

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AVGO. Truist Financial boosted their price target on shares of Broadcom from $995.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Friday, December 8th. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Oppenheimer reissued an “outperform” rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Cantor Fitzgerald boosted their price target on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Finally, StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,230.18.

Read Our Latest Stock Report on Broadcom

Broadcom Company Profile

(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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