Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Bogart Wealth LLC

Bogart Wealth LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298 shares of the semiconductor manufacturer’s stock after purchasing an additional 25 shares during the quarter. Bogart Wealth LLC’s holdings in Broadcom were worth $333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. RMR Wealth Builders boosted its position in shares of Broadcom by 3.0% during the 4th quarter. RMR Wealth Builders now owns 6,550 shares of the semiconductor manufacturer’s stock worth $7,311,000 after acquiring an additional 188 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of Broadcom by 3.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 35,767 shares of the semiconductor manufacturer’s stock valued at $39,925,000 after purchasing an additional 1,062 shares during the period. Evexia Wealth LLC boosted its position in shares of Broadcom by 0.8% in the 4th quarter. Evexia Wealth LLC now owns 6,024 shares of the semiconductor manufacturer’s stock valued at $7,376,000 after purchasing an additional 46 shares during the period. Picton Mahoney Asset Management boosted its position in shares of Broadcom by 16.3% in the 4th quarter. Picton Mahoney Asset Management now owns 17,738 shares of the semiconductor manufacturer’s stock valued at $19,799,000 after purchasing an additional 2,489 shares during the period. Finally, EdgeRock Capital LLC boosted its position in shares of Broadcom by 22.3% in the 4th quarter. EdgeRock Capital LLC now owns 351 shares of the semiconductor manufacturer’s stock valued at $430,000 after purchasing an additional 64 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Oppenheimer reissued an “outperform” rating and issued a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Susquehanna increased their target price on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Finally, Cantor Fitzgerald increased their target price 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. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Insider Activity at Broadcom

In related news, Director Justine Page sold 110 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Justine Page sold 110 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 over the last three months. 2.00% of the stock is owned by insiders.

Broadcom Stock Up 1.7 %

NASDAQ:AVGO traded up $22.26 during mid-day trading on Wednesday, hitting $1,325.37. The company had a trading volume of 1,391,012 shares, compared to its average volume of 2,855,330. Broadcom Inc. has a 1 year low of $615.86 and a 1 year high of $1,438.17. The firm has a market capitalization of $614.20 billion, a price-to-earnings ratio of 49.12, a PEG ratio of 2.60 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 business has a fifty day simple moving average of $1,308.82 and a 200-day simple moving average of $1,157.75.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $11.79 billion. During the same period in the previous year, the company earned $9.83 earnings per share. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. Equities analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company 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. 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 1.58%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

About Broadcom

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.