Trueblood Wealth Management LLC Acquires New Holdings in Broadcom Inc. (NASDAQ:AVGO)

Trueblood Wealth Management LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 576 shares of the semiconductor manufacturer’s stock, valued at approximately $643,000.

A number of other institutional investors also recently modified their holdings of AVGO. FLC Capital Advisors grew its holdings in shares of Broadcom by 42.2% in the 4th quarter. FLC Capital Advisors now owns 394 shares of the semiconductor manufacturer’s stock worth $440,000 after purchasing an additional 117 shares during the last quarter. Good Life Advisors LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $220,000. Great Lakes Retirement Inc. raised its position in shares of Broadcom by 18.3% in the 4th quarter. Great Lakes Retirement Inc. now owns 2,771 shares of the semiconductor manufacturer’s stock valued at $3,094,000 after acquiring an additional 429 shares during the period. Pettinga Financial Advisors LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $276,000. Finally, Hill Island Financial LLC bought a new stake in Broadcom during the 4th quarter worth approximately $287,000. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the sale, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The disclosure for this sale can be found here. In the last three months, insiders sold 19,810 shares of company stock valued at $26,107,692. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AVGO. Barclays began coverage on shares of Broadcom in a research note on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 price target for the company. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Truist Financial boosted their price target on Broadcom from $995.00 to $1,015.00 and gave the stock a “buy” rating in a report on Friday, December 8th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Finally, Cantor Fitzgerald lifted their price objective 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 analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,230.18.

Broadcom Trading Down 1.0 %

NASDAQ:AVGO traded down $12.76 during trading hours on Wednesday, reaching $1,318.73. 2,498,436 shares of the stock were exchanged, compared to its average volume of 3,114,785. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The business has a 50-day moving average of $1,267.55 and a two-hundred day moving average of $1,061.46. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $611.13 billion, a price-to-earnings ratio of 48.60, a PEG ratio of 2.85 and a beta of 1.26.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data 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 return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter last year, the company posted $9.83 earnings per share. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc. will post 36.8 EPS for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 21st will be paid a dividend of $5.25 per share. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.59%. 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.