Gilliland Jeter Wealth Management LLC Buys New Position in Broadcom Inc. (NASDAQ:AVGO)

Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,493 shares of the semiconductor manufacturer’s stock, valued at approximately $1,667,000.

A number of other hedge funds have also recently bought and sold shares of the company. Boston Trust Walden Corp increased its stake in Broadcom by 0.6% in the 3rd quarter. Boston Trust Walden Corp now owns 2,381 shares of the semiconductor manufacturer’s stock valued at $1,978,000 after buying an additional 15 shares during the last quarter. Strategic Blueprint LLC grew its holdings in shares of Broadcom by 8.1% in the third quarter. Strategic Blueprint LLC now owns 1,058 shares of the semiconductor manufacturer’s stock valued at $879,000 after acquiring an additional 79 shares in the last quarter. CX Institutional increased its position in shares of Broadcom by 2.7% during the third quarter. CX Institutional now owns 1,279 shares of the semiconductor manufacturer’s stock valued at $1,062,000 after acquiring an additional 34 shares during the last quarter. Coastline Trust Co lifted its holdings in Broadcom by 20.1% during the third quarter. Coastline Trust Co now owns 874 shares of the semiconductor manufacturer’s stock worth $726,000 after acquiring an additional 146 shares during the period. Finally, Secure Asset Management LLC lifted its holdings in Broadcom by 11.7% during the third quarter. Secure Asset Management LLC now owns 498 shares of the semiconductor manufacturer’s stock worth $413,000 after acquiring an additional 52 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. Mizuho raised their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. UBS Group increased their target price on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, Oppenheimer restated an “outperform” rating and set a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Three 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 has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justine Page sold 110 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock valued at $40,306,667 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO traded up $49.65 during midday trading on Friday, hitting $1,344.07. 2,409,983 shares of the company traded hands, compared to its average volume of 2,322,994. The stock has a 50-day moving average of $1,306.70 and a 200-day moving average of $1,135.99. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The firm has a market cap of $622.87 billion, a P/E ratio of 49.82, a PEG ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the prior year, the firm posted $9.83 EPS. Broadcom’s revenue was up 34.2% on a year-over-year basis. As a group, sell-side analysts predict that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.56%. Broadcom’s dividend payout ratio is currently 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.