Aprio Wealth Management LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Aprio Wealth Management LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 406 shares of the semiconductor manufacturer’s stock, valued at approximately $227,000.

Several other large investors have also recently bought and sold shares of AVGO. First Personal Financial Services lifted its holdings in Broadcom by 126.7% during the 3rd quarter. First Personal Financial Services now owns 68 shares of the semiconductor manufacturer’s stock worth $30,000 after buying an additional 38 shares in the last quarter. Coston McIsaac & Partners bought a new stake in shares of Broadcom during the 2nd quarter valued at $32,000. Ritter Daniher Financial Advisory LLC DE raised its position in shares of Broadcom by 138.7% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 74 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 43 shares during the last quarter. Colonial Trust Advisors bought a new stake in shares of Broadcom during the 3rd quarter valued at $36,000. Finally, Annapolis Financial Services LLC raised its position in shares of Broadcom by 75.5% during the 3rd quarter. Annapolis Financial Services LLC now owns 86 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 37 shares during the last quarter. Institutional investors and hedge funds own 81.28% of the company’s stock.

Broadcom Trading Down 0.9 %

Broadcom stock opened at $630.97 on Friday. The firm has a 50-day moving average of $597.58 and a 200-day moving average of $536.05. Broadcom Inc. has a one year low of $415.07 and a one year high of $645.31. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.52 and a quick ratio of 2.26. The company has a market cap of $263.06 billion, a price-to-earnings ratio of 21.24, a P/E/G ratio of 1.27 and a beta of 1.10.

Broadcom (NASDAQ:AVGO – Get Rating) last issued its earnings results on Thursday, March 2nd. The semiconductor manufacturer reported $10.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.38 by $0.95. Broadcom had a net margin of 37.19% and a return on equity of 73.52%. The business had revenue of $8.92 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same period last year, the business posted $7.68 EPS. Broadcom’s revenue was up 15.7% on a year-over-year basis. On average, equities analysts expect that Broadcom Inc. will post 38.09 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 22nd will be paid a $4.60 dividend. The ex-dividend date of this dividend is Tuesday, March 21st. This represents a $18.40 annualized dividend and a yield of 2.92%. Broadcom’s dividend payout ratio (DPR) is currently 61.93%.

Wall Street Analyst Weigh In

Several analysts have commented on AVGO shares. Cowen upped their target price on shares of Broadcom from $540.00 to $555.00 in a research report on Friday, December 9th. Evercore ISI upped their target price on shares of Broadcom to $650.00 in a research report on Monday, December 12th. Truist Financial upped their target price on shares of Broadcom from $659.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, March 3rd. Mizuho restated a “buy” rating and issued a $720.00 price objective on shares of Broadcom in a research report on Friday. Finally, Bank of America upped their price objective on shares of Broadcom from $680.00 to $725.00 in a research report on Friday, March 3rd. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $674.17.

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,175 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $625.01, for a total value of $1,984,406.75. Following the completion of the sale, the director now directly owns 9,734 shares in the company, valued at approximately $6,083,847.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is currently owned by company insiders.

About Broadcom

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Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.