Kellett Wealth Advisors LLC Buys New Shares in Broadcom Inc. (NASDAQ:AVGO)

Kellett Wealth Advisors LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 261 shares of the semiconductor manufacturer’s stock, valued at approximately $291,000.

Several other hedge funds and other institutional investors have also bought and sold shares of AVGO. Colton Groome Financial Advisors LLC increased its stake in Broadcom by 18.1% in the fourth quarter. Colton Groome Financial Advisors LLC now owns 2,055 shares of the semiconductor manufacturer’s stock valued at $2,294,000 after purchasing an additional 315 shares in the last quarter. Fidelis Capital Partners LLC increased its stake in Broadcom by 20.3% in the fourth quarter. Fidelis Capital Partners LLC now owns 3,176 shares of the semiconductor manufacturer’s stock valued at $3,545,000 after purchasing an additional 536 shares in the last quarter. Western Wealth Management LLC increased its stake in Broadcom by 2.0% in the fourth quarter. Western Wealth Management LLC now owns 10,500 shares of the semiconductor manufacturer’s stock valued at $11,721,000 after purchasing an additional 207 shares in the last quarter. Obermeyer Wood Investment Counsel Lllp increased its stake in Broadcom by 9.5% in the fourth quarter. Obermeyer Wood Investment Counsel Lllp now owns 1,388 shares of the semiconductor manufacturer’s stock valued at $1,549,000 after purchasing an additional 120 shares in the last quarter. Finally, Trust Investment Advisors increased its position in shares of Broadcom by 7.0% during the fourth quarter. Trust Investment Advisors now owns 2,749 shares of the semiconductor manufacturer’s stock worth $3,068,000 after acquiring an additional 179 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Mizuho upped their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. UBS Group upped their price objective on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the sale, the insider now directly owns 41,974 shares in the company, valued at approximately $55,257,092.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the transaction, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 in the last three months. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO stock traded down $23.64 during trading on Thursday, reaching $1,258.99. 2,486,763 shares of the company’s stock traded hands, compared to its average volume of 2,947,770. The company has a market capitalization of $583.44 billion, a P/E ratio of 46.86, a PEG ratio of 2.71 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. The firm’s 50-day moving average is $1,307.00 and its 200 day moving average is $1,115.19. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its earnings results 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 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 analysts’ expectations of $11.79 billion. During the same period in the prior year, the company posted $9.83 EPS. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. Equities research analysts expect that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

The company 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. This represents a $21.00 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Broadcom 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.