Quantum Private Wealth LLC Has $4.64 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Quantum Private Wealth LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,152 shares of the semiconductor manufacturer’s stock after selling 459 shares during the period. Broadcom makes up 1.9% of Quantum Private Wealth LLC’s portfolio, making the stock its 7th biggest position. Quantum Private Wealth LLC’s holdings in Broadcom were worth $4,635,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AVGO. Phoenix Wealth Advisors boosted its stake in Broadcom by 1.0% in the 4th quarter. Phoenix Wealth Advisors now owns 2,883 shares of the semiconductor manufacturer’s stock worth $3,129,000 after purchasing an additional 28 shares during the period. Scissortail Wealth Management LLC lifted its position in shares of Broadcom by 18.2% in the fourth quarter. Scissortail Wealth Management LLC now owns 5,253 shares of the semiconductor manufacturer’s stock worth $6,397,000 after purchasing an additional 810 shares in the last quarter. Aspen Wealth Strategies LLC boosted its holdings in Broadcom by 121.9% during the fourth quarter. Aspen Wealth Strategies LLC now owns 2,567 shares of the semiconductor manufacturer’s stock worth $2,865,000 after purchasing an additional 1,410 shares during the last quarter. GraniteShares Advisors LLC bought a new position in Broadcom in the fourth quarter valued at $2,220,000. Finally, Avior Wealth Management LLC increased its stake in Broadcom by 1.5% in the 4th quarter. Avior Wealth Management LLC now owns 2,462 shares of the semiconductor manufacturer’s stock valued at $2,749,000 after buying an additional 36 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 over the last quarter. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Barclays began coverage on Broadcom in a research note on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 price target for the company. Cantor Fitzgerald upped their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Susquehanna raised their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Finally, UBS Group boosted their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,281.09.

Broadcom Stock Performance

NASDAQ AVGO traded down $15.04 during trading on Wednesday, reaching $1,314.02. The company’s stock had a trading volume of 494,933 shares, compared to its average volume of 2,926,803. The firm has a 50 day moving average price of $1,306.49 and a 200 day moving average price of $1,114.01. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The firm has a market capitalization of $608.94 billion, a price-to-earnings ratio of 48.99, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating 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 previous year, the company posted $9.83 earnings per share. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. As a group, equities analysts anticipate that Broadcom Inc. will post 35.95 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared 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 yield of 1.60%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

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.