Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 17.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,642 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,121 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Broadcom were worth $1,772,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AVGO. Kiely Wealth Advisory Group Inc. purchased a new position in Broadcom in the 2nd quarter valued at about $128,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Broadcom in the second quarter worth about $136,000. RiverGlades Family Offices LLC purchased a new position in Broadcom in the second quarter valued at about $210,000. Disciplined Growth Investors Inc. MN acquired a new stake in Broadcom during the 2nd quarter valued at approximately $228,000. Finally, Security National Bank of Sioux City Iowa IA purchased a new stake in Broadcom during the 2nd quarter worth approximately $234,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of AVGO opened at $229.41 on Friday. The firm has a market capitalization of $1.08 trillion, a PE ratio of 187.12, a P/E/G ratio of 2.35 and a beta of 1.03. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $200.02 and a 200 day moving average price of $177.11. Broadcom Inc. has a 52-week low of $109.02 and a 52-week high of $251.88.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter last year, the business earned $0.98 earnings per share. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.03%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Insider Buying and Selling

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last three months. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Cantor Fitzgerald boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Morgan Stanley increased their price target on shares of Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Rosenblatt Securities restated a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research note on Wednesday, December 11th. Finally, Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $223.54.

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.