Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Aspen Wealth Strategies LLC

Aspen Wealth Strategies LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 121.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,567 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,410 shares during the quarter. Broadcom accounts for about 2.1% of Aspen Wealth Strategies LLC’s investment portfolio, making the stock its 11th largest holding. Aspen Wealth Strategies LLC’s holdings in Broadcom were worth $2,865,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GraniteShares Advisors LLC bought a new stake in shares of Broadcom in the fourth quarter worth $2,220,000. Avior Wealth Management LLC grew its position in Broadcom by 1.5% in the 4th quarter. Avior Wealth Management LLC now owns 2,462 shares of the semiconductor manufacturer’s stock valued at $2,749,000 after buying an additional 36 shares in the last quarter. Macroview Investment Management LLC grew its position in Broadcom by 36.1% in the 4th quarter. Macroview Investment Management LLC now owns 49 shares of the semiconductor manufacturer’s stock valued at $54,000 after buying an additional 13 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Broadcom by 109.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 229,312 shares of the semiconductor manufacturer’s stock valued at $255,970,000 after purchasing an additional 119,597 shares in the last quarter. Finally, Everence Capital Management Inc. boosted its position in shares of Broadcom by 10.1% during the 4th quarter. Everence Capital Management Inc. now owns 11,549 shares of the semiconductor manufacturer’s stock valued at $12,892,000 after purchasing an additional 1,060 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AVGO. Mizuho increased their price target 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. Evercore ISI began coverage on shares of Broadcom in a research report on Tuesday. They issued an “outperform” rating and a $1,620.00 price target for the company. Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Susquehanna increased their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Finally, Benchmark reissued a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Three 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 has a consensus rating of “Moderate Buy” and an average target price of $1,281.09.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 110 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Justine Page sold 110 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO stock traded up $18.37 during midday trading on Tuesday, hitting $1,329.06. 1,890,746 shares of the company traded hands, compared to its average volume of 2,960,501. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. 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 business has a 50 day simple moving average of $1,304.36 and a 200-day simple moving average of $1,110.50. The stock has a market capitalization of $615.91 billion, a price-to-earnings ratio of 48.76, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating 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 the consensus estimate of $11.79 billion. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter last year, the company posted $9.83 earnings per share. As a group, equities research analysts predict that Broadcom Inc. will post 35.95 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.58%. Broadcom’s payout ratio 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.