Valley Brook Capital Group Inc. Purchases 60 Shares of Broadcom Inc. (NASDAQ:AVGO)

Valley Brook Capital Group Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,635 shares of the semiconductor manufacturer’s stock after purchasing an additional 60 shares during the quarter. Broadcom comprises 1.6% of Valley Brook Capital Group Inc.’s investment portfolio, making the stock its 14th biggest holding. Valley Brook Capital Group Inc.’s holdings in Broadcom were worth $1,825,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Sheets Smith Wealth Management boosted its position in shares of Broadcom by 4.0% in the 4th quarter. Sheets Smith Wealth Management now owns 283 shares of the semiconductor manufacturer’s stock worth $316,000 after purchasing an additional 11 shares in the last quarter. TCI Wealth Advisors Inc. boosted its holdings in Broadcom by 71.8% in the fourth quarter. TCI Wealth Advisors Inc. now owns 488 shares of the semiconductor manufacturer’s stock worth $544,000 after acquiring an additional 204 shares in the last quarter. Evergreen Wealth Management LLC grew its stake in shares of Broadcom by 2.0% in the fourth quarter. Evergreen Wealth Management LLC now owns 3,162 shares of the semiconductor manufacturer’s stock worth $3,530,000 after acquiring an additional 63 shares during the last quarter. Fi3 FINANCIAL ADVISORS LLC increased its holdings in shares of Broadcom by 4.1% during the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 411 shares of the semiconductor manufacturer’s stock valued at $459,000 after acquiring an additional 16 shares in the last quarter. Finally, Clearstead Trust LLC raised its position in shares of Broadcom by 34.0% in the 4th quarter. Clearstead Trust LLC now owns 2,647 shares of the semiconductor manufacturer’s stock worth $2,955,000 after purchasing an additional 672 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 110 shares of the business’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 transaction, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares in the company, valued at $55,257,092.04. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 in the last three months. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO traded up $39.54 during midday trading on Friday, reaching $1,278.11. The stock had a trading volume of 2,489,755 shares, compared to its average volume of 2,435,058. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. 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 of $1,308.66 and a 200-day moving average of $1,151.47. The company has a market capitalization of $592.30 billion, a price-to-earnings ratio of 47.37, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results 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 business had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period last year, the firm earned $9.83 earnings per share. As a group, research analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 yield of 1.64%. Broadcom’s payout ratio is 77.84%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Mizuho increased 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. Barclays boosted their price target on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Finally, Susquehanna boosted their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom 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.