Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGOGet Rating) by 10.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,284 shares of the semiconductor manufacturer’s stock after acquiring an additional 319 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Broadcom were worth $2,185,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AVGO. M&G Investment Management Ltd. boosted its holdings in shares of Broadcom by 1.8% in the 3rd quarter. M&G Investment Management Ltd. now owns 100,913 shares of the semiconductor manufacturer’s stock valued at $48,943,000 after purchasing an additional 1,803 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Broadcom by 9.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 60,272 shares of the semiconductor manufacturer’s stock valued at $27,070,000 after acquiring an additional 5,226 shares during the period. BOKF NA purchased a new position in shares of Broadcom in the 3rd quarter valued at $32,946,000. Holderness Investments Co. raised its stake in shares of Broadcom by 8.8% in the 3rd quarter. Holderness Investments Co. now owns 2,730 shares of the semiconductor manufacturer’s stock valued at $1,324,000 after acquiring an additional 220 shares during the period. Finally, Cetera Investment Advisers raised its stake in shares of Broadcom by 5.1% in the 3rd quarter. Cetera Investment Advisers now owns 14,136 shares of the semiconductor manufacturer’s stock valued at $6,855,000 after acquiring an additional 685 shares during the period. Institutional investors own 80.22% of the company’s stock.

Broadcom stock traded up $19.65 during mid-day trading on Thursday, hitting $579.19. 117,242 shares of the company’s stock were exchanged, compared to its average volume of 2,511,127. The company has a current ratio of 2.44, a quick ratio of 2.20 and a debt-to-equity ratio of 1.71. The stock has a market cap of $236.47 billion, a P/E ratio of 33.12, a P/E/G ratio of 1.26 and a beta of 1.01. Broadcom Inc. has a 1-year low of $419.14 and a 1-year high of $677.76. The stock has a 50 day moving average of $594.69 and a two-hundred day moving average of $584.22.

Broadcom (NASDAQ:AVGOGet Rating) last issued its quarterly earnings results on Thursday, March 3rd. The semiconductor manufacturer reported $8.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $8.08 by $0.31. The company had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.61 billion. Broadcom had a return on equity of 50.20% and a net margin of 27.47%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same period last year, the business posted $5.78 earnings per share. As a group, research analysts predict that Broadcom Inc. will post 32.37 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Tuesday, March 22nd were given a dividend of $4.10 per share. This represents a $16.40 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Monday, March 21st. Broadcom’s dividend payout ratio (DPR) is presently 93.50%.

In other news, insider Thomas H. Krause sold 13,863 shares of Broadcom stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $585.29, for a total value of $8,113,875.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane M. Bryant sold 476 shares of Broadcom stock in a transaction that occurred on Tuesday, April 5th. The shares were sold at an average price of $629.55, for a total transaction of $299,665.80. Following the completion of the transaction, the director now owns 1,560 shares of the company’s stock, valued at approximately $982,098. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,273 shares of company stock worth $18,818,718. 2.30% of the stock is owned by company insiders.

A number of brokerages have recently commented on AVGO. Morgan Stanley cut their target price on shares of Broadcom from $723.00 to $703.00 and set an “overweight” rating on the stock in a research note on Friday, March 4th. UBS Group lifted their price target on shares of Broadcom from $665.00 to $690.00 and gave the stock a “buy” rating in a research note on Friday, March 4th. Susquehanna reaffirmed a “buy” rating and set a $680.00 price target on shares of Broadcom in a research note on Tuesday, March 1st. KeyCorp lifted their price target on shares of Broadcom from $710.00 to $720.00 and gave the stock an “overweight” rating in a research note on Friday, March 4th. Finally, The Goldman Sachs Group dropped their price target on shares of Broadcom from $704.00 to $665.00 and set a “buy” rating on the stock in a research note on Friday, March 4th. Five research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $672.48.

About Broadcom (Get Rating)

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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