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

Meridian Wealth Partners LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 289 shares of the semiconductor manufacturer’s stock after acquiring an additional 31 shares during the period. Meridian Wealth Partners LLC’s holdings in Broadcom were worth $322,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Walkner Condon Financial Advisors LLC grew its stake in Broadcom by 7.9% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 343 shares of the semiconductor manufacturer’s stock valued at $285,000 after acquiring an additional 25 shares during the period. U.S. Capital Wealth Advisors LLC lifted its holdings in Broadcom by 15.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 4,214 shares of the semiconductor manufacturer’s stock valued at $3,500,000 after purchasing an additional 566 shares in the last quarter. Trust Co. of Toledo NA OH grew its position in shares of Broadcom by 77.1% in the third quarter. Trust Co. of Toledo NA OH now owns 1,222 shares of the semiconductor manufacturer’s stock valued at $1,015,000 after purchasing an additional 532 shares during the period. Lake Street Financial LLC increased its stake in shares of Broadcom by 3.6% during the third quarter. Lake Street Financial LLC now owns 2,673 shares of the semiconductor manufacturer’s stock worth $2,224,000 after purchasing an additional 93 shares in the last quarter. Finally, Bremer Bank National Association raised its position in shares of Broadcom by 1.5% during the 3rd quarter. Bremer Bank National Association now owns 2,566 shares of the semiconductor manufacturer’s stock worth $2,131,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AVGO shares. Oppenheimer reiterated an “outperform” rating and issued a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. The Goldman Sachs Group restated a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a report on Friday, January 19th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Finally, Evercore ISI started coverage on shares of Broadcom in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Trading Up 3.8 %

NASDAQ:AVGO traded up $49.65 on Friday, reaching $1,344.07. The company’s stock had a trading volume of 2,409,983 shares, compared to its average volume of 2,322,994. The firm has a market cap of $622.87 billion, a price-to-earnings ratio of 49.82, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The stock has a 50 day moving average price of $1,306.70 and a 200 day moving average price of $1,135.99.

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, beating the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the firm earned $9.83 EPS. On average, equities analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.56%. Broadcom’s payout ratio is currently 77.84%.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the transaction, the insider now directly owns 41,974 shares in the company, valued at $55,257,092.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the sale, the insider now owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

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.