Zhang Financial LLC Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Zhang Financial LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGOGet Rating) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 661 shares of the semiconductor manufacturer’s stock after purchasing an additional 50 shares during the quarter. Zhang Financial LLC’s holdings in Broadcom were worth $440,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Investment Research & Advisory Group Inc. acquired a new position in shares of Broadcom in the 4th quarter worth approximately $25,000. Blue Bell Private Wealth Management LLC acquired a new position in shares of Broadcom in the 4th quarter worth approximately $25,000. Focused Wealth Management Inc grew its position in shares of Broadcom by 101.0% in the 4th quarter. Focused Wealth Management Inc now owns 40 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 4,000 shares in the last quarter. TFO TDC LLC acquired a new position in shares of Broadcom in the 4th quarter worth approximately $25,000. Finally, West Bancorporation Inc. acquired a new position in Broadcom during the 4th quarter valued at approximately $29,000. Institutional investors own 81.53% of the company’s stock.

NASDAQ AVGO traded up $16.29 on Tuesday, reaching $598.96. The stock had a trading volume of 20,008 shares, compared to its average volume of 2,380,166. The company has a market capitalization of $244.54 billion, a price-to-earnings ratio of 34.15, a P/E/G ratio of 1.17 and a beta of 1.04. The business has a 50 day moving average price of $594.15 and a 200 day moving average price of $591.41. Broadcom Inc. has a 1 year low of $425.70 and a 1 year high of $677.76. The company has a current ratio of 2.44, a quick ratio of 2.20 and a debt-to-equity ratio of 1.71.

Broadcom (NASDAQ:AVGOGet Rating) last released its quarterly earnings results on Thursday, March 3rd. The semiconductor manufacturer reported $8.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.08 by $0.31. The company had revenue of $7.71 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.78 EPS. On average, analysts anticipate that Broadcom Inc. will post 32.37 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Tuesday, March 22nd were paid a dividend of $4.10 per share. The ex-dividend date of this dividend was Monday, March 21st. This represents a $16.40 annualized dividend and a dividend yield of 2.74%. Broadcom’s dividend payout ratio (DPR) is presently 93.50%.

AVGO has been the subject of a number of analyst reports. Rosenblatt Securities boosted their price objective on Broadcom from $750.00 to $775.00 and gave the company a “buy” rating in a research report on Friday, March 4th. Zacks Investment Research lowered Broadcom from a “buy” rating to a “hold” rating and set a $599.00 price objective for the company. in a research report on Tuesday, March 8th. The Goldman Sachs Group cut their target price on Broadcom from $704.00 to $665.00 and set a “buy” rating on the stock in a research note on Friday, March 4th. StockNews.com raised Broadcom from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Susquehanna Bancshares reaffirmed a “buy” rating and set a $680.00 target price on shares of Broadcom in a research note on Tuesday, March 1st. Five analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Broadcom currently has an average rating of “Buy” and an average price target of $672.48.

In related news, insider Thomas H. Krause sold 13,863 shares of the business’s stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $585.29, for a total transaction of $8,113,875.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Charlie B. Kawwas sold 2,520 shares of the business’s stock in a transaction dated Thursday, March 24th. The stock was sold at an average price of $619.89, for a total value of $1,562,122.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,273 shares of company stock valued at $18,818,718. 2.30% of the stock is currently owned by corporate insiders.

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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