Wetzel Investment Advisors Inc. Invests $452,000 in Broadcom Inc. (NASDAQ:AVGO)

Wetzel Investment Advisors Inc. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 405 shares of the semiconductor manufacturer’s stock, valued at approximately $452,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp raised its position in shares of Broadcom by 5.0% during the 1st quarter. State Street Corp now owns 16,632,123 shares of the semiconductor manufacturer’s stock worth $10,670,149,000 after acquiring an additional 794,832 shares in the last quarter. Morgan Stanley raised its position in shares of Broadcom by 12.5% during the 4th quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock worth $3,287,056,000 after acquiring an additional 651,014 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Broadcom by 11.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock worth $2,948,563,000 after buying an additional 488,405 shares during the last quarter. Northern Trust Corp grew its stake in Broadcom by 2.1% during the 3rd quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock worth $3,866,684,000 after buying an additional 93,615 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Broadcom by 4.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,280,218 shares of the semiconductor manufacturer’s stock worth $3,712,789,000 after buying an additional 179,272 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of several analyst reports. Mizuho lifted their target price on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Benchmark reiterated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Cantor Fitzgerald lifted their target price on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Susquehanna lifted their target price on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Activity

In other news, Director Justine Page sold 110 shares of the company’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 sale, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Justine Page sold 110 shares of the company’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 sale, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of the company’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 completion of the sale, the insider now owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

AVGO traded down $54.28 during trading on Friday, reaching $1,204.71. 4,477,530 shares of the stock were exchanged, compared to its average volume of 2,968,402. The business’s 50 day moving average price is $1,305.11 and its two-hundred day moving average price is $1,118.75. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The company has a market capitalization of $558.29 billion, a price-to-earnings ratio of 44.65, a P/E/G ratio of 2.62 and a beta of 1.25. 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 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the business earned $9.83 earnings per share. As a group, equities research analysts anticipate that Broadcom Inc. will post 35.88 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 given a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.74%. Broadcom’s dividend payout ratio is currently 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.