Relyea Zuckerberg Hanson LLC Purchases 1,588 Shares of Broadcom Inc. (NASDAQ:AVGO)

Relyea Zuckerberg Hanson LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 13.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,277 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,588 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in Broadcom were worth $3,078,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kiely Wealth Advisory Group Inc. bought a new position in Broadcom during the second quarter worth $128,000. RiverGlades Family Offices LLC bought a new position in Broadcom during the second quarter worth $210,000. Disciplined Growth Investors Inc. MN acquired a new position in Broadcom during the second quarter worth $228,000. Security National Bank of Sioux City Iowa IA acquired a new position in Broadcom during the second quarter worth $234,000. Finally, Castleview Partners LLC raised its holdings in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 134 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Up 3.5 %

Shares of NASDAQ AVGO opened at $237.44 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12 month low of $112.19 and a 12 month high of $251.88. The firm has a market capitalization of $1.11 trillion, a PE ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The firm has a fifty day simple moving average of $202.01 and a two-hundred day simple moving average of $178.14.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data 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 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the business earned $0.98 EPS. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.99%. Broadcom’s dividend payout ratio is currently 192.50%.

Analysts Set New Price Targets

AVGO has been the topic of several research reports. Cantor Fitzgerald upped their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Citigroup upped their price objective on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Truist Financial upped their price objective on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Benchmark reiterated a “buy” rating and issued a $255.00 target price (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.83.

Insider Transactions at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were 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 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 have sold 191,278 shares of company stock valued at $44,964,800 in the last three months. 2.00% of the stock is currently owned by company insiders.

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.