Accurate Wealth Management LLC Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Accurate Wealth Management LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,743 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,194 shares during the quarter. Broadcom makes up approximately 0.8% of Accurate Wealth Management LLC’s investment portfolio, making the stock its 23rd largest position. Accurate Wealth Management LLC’s holdings in Broadcom were worth $4,206,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sovereign Financial Group Inc. boosted its position in Broadcom by 15.1% during the fourth quarter. Sovereign Financial Group Inc. now owns 5,924 shares of the semiconductor manufacturer’s stock worth $1,373,000 after purchasing an additional 778 shares in the last quarter. Capstone Wealth Management Group LLC raised its stake in shares of Broadcom by 5.6% during the 4th quarter. Capstone Wealth Management Group LLC now owns 38,422 shares of the semiconductor manufacturer’s stock worth $8,908,000 after buying an additional 2,030 shares during the period. Fiduciary Financial Group LLC grew its stake in Broadcom by 83.3% in the 4th quarter. Fiduciary Financial Group LLC now owns 3,300 shares of the semiconductor manufacturer’s stock valued at $740,000 after acquiring an additional 1,500 shares during the period. Mayfair Advisory Group LLC increased its holdings in Broadcom by 4.0% in the 4th quarter. Mayfair Advisory Group LLC now owns 2,401 shares of the semiconductor manufacturer’s stock worth $557,000 after acquiring an additional 92 shares in the last quarter. Finally, David J Yvars Group raised its position in Broadcom by 249.9% during the fourth quarter. David J Yvars Group now owns 26,642 shares of the semiconductor manufacturer’s stock worth $6,180,000 after acquiring an additional 19,027 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. TD Cowen increased their target price on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Barclays lifted their price target on Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Bank of America raised their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Susquehanna boosted their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $223.54.

Broadcom Stock Performance

Shares of Broadcom stock opened at $228.00 on Thursday. The business has a 50-day simple moving average of $199.05 and a 200-day simple moving average of $176.63. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a one year low of $109.02 and a one year high of $251.88. The company has a market cap of $1.07 trillion, a PE ratio of 198.09, a P/E/G ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The firm’s revenue was up 51.2% on a year-over-year basis. On average, equities research analysts forecast that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.04%. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 191.87%.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Insiders own 2.00% of the company’s stock.

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.