Evergreen Wealth Management LLC Increases Position in Broadcom Inc. (NASDAQ:AVGO)

Evergreen Wealth Management LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,162 shares of the semiconductor manufacturer’s stock after purchasing an additional 63 shares during the period. Broadcom comprises approximately 2.6% of Evergreen Wealth Management LLC’s portfolio, making the stock its 13th largest position. Evergreen Wealth Management LLC’s holdings in Broadcom were worth $3,530,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Broadcom during the 4th quarter worth approximately $25,000. PSI Advisors LLC boosted its position in shares of Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares during the period. Macroview Investment Management LLC purchased a new position in Broadcom during the 3rd quarter worth approximately $29,000. BKM Wealth Management LLC acquired a new position in Broadcom during the fourth quarter worth approximately $29,000. Finally, CKW Financial Group purchased a new stake in Broadcom in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the sale, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AVGO shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Monday, April 8th. UBS Group upped their target price on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Benchmark reiterated a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Price Performance

Broadcom stock traded up $39.54 during trading hours on Friday, hitting $1,278.11. The stock had a trading volume of 2,489,755 shares, compared to its average volume of 2,435,058. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The stock has a market capitalization of $592.30 billion, a price-to-earnings ratio of 47.37, a PEG ratio of 2.60 and a beta of 1.25. The stock’s fifty day moving average is $1,308.66 and its two-hundred day moving average is $1,151.47. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the company earned $9.83 EPS. As a group, analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Broadcom Company Profile

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.