Boyce & Associates Wealth Consulting Inc. Makes New $242,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Boyce & Associates Wealth Consulting Inc. acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,045 shares of the semiconductor manufacturer’s stock, valued at approximately $242,000.

Other large investors have also modified their holdings of the company. Czech National Bank boosted its position in shares of Broadcom by 6.8% in the 4th quarter. Czech National Bank now owns 1,012,619 shares of the semiconductor manufacturer’s stock valued at $234,766,000 after purchasing an additional 64,370 shares during the period. Graypoint LLC boosted its holdings in shares of Broadcom by 1.1% in the fourth quarter. Graypoint LLC now owns 59,962 shares of the semiconductor manufacturer’s stock worth $13,902,000 after buying an additional 660 shares during the period. RMR Wealth Builders boosted its holdings in shares of Broadcom by 1.0% in the fourth quarter. RMR Wealth Builders now owns 70,370 shares of the semiconductor manufacturer’s stock worth $16,315,000 after buying an additional 676 shares during the period. Lynch & Associates IN purchased a new position in shares of Broadcom in the fourth quarter worth approximately $251,000. Finally, Atlas Brown Inc. acquired a new stake in shares of Broadcom during the fourth quarter valued at approximately $286,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Down 2.2 %

Broadcom stock opened at $224.31 on Monday. Broadcom Inc. has a fifty-two week low of $107.45 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 194.88, a PEG ratio of 2.15 and a beta of 1.03. The company’s 50 day simple moving average is $196.90 and its 200 day simple moving average is $175.71.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 191.87%.

Analysts Set New Price Targets

Several equities analysts have weighed in on AVGO shares. Bank of America lifted their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Piper Sandler upped their price target on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Truist Financial raised their price objective on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Jefferies Financial Group upped their target price on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, William Blair initiated coverage on shares of Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $223.54.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. 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 40,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

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.