Private Client Services LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Private Client Services LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 250 shares of the semiconductor manufacturer’s stock, valued at approximately $279,000.

Other large investors have also made changes to their positions in the company. BKM Wealth Management LLC purchased a new position in Broadcom in the 4th quarter worth approximately $29,000. CKW Financial Group purchased a new stake in shares of Broadcom during the 4th quarter worth approximately $30,000. Macroview Investment Management LLC purchased a new stake in shares of Broadcom during the 3rd quarter worth approximately $29,000. Indiana Trust & Investment Management CO purchased a new stake in shares of Broadcom during the 3rd quarter worth approximately $32,000. Finally, PrairieView Partners LLC raised its holdings in Broadcom by 178.6% during the 4th quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock valued at $44,000 after buying an additional 25 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of the transaction, the insider now directly owns 46,974 shares of the company’s stock, valued at approximately $61,957,296.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the transaction, the insider now owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 in the last three months. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on AVGO shares. Mizuho upped their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Benchmark restated a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a report on Friday, January 19th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,281.09.

Broadcom Trading Up 0.4 %

AVGO opened at $1,315.59 on Tuesday. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The stock has a market capitalization of $609.67 billion, a price-to-earnings ratio of 48.58, a PEG ratio of 2.74 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The business has a fifty day moving average price of $1,304.36 and a 200 day moving average price of $1,110.50.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the prior year, the firm posted $9.83 EPS. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. Sell-side analysts expect that Broadcom Inc. will post 35.95 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.60%. Broadcom’s dividend payout ratio is currently 77.84%.

About Broadcom

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.