TrueWealth Advisors LLC Grows Position in Broadcom Inc. (NASDAQ:AVGO)

TrueWealth Advisors LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,073 shares of the semiconductor manufacturer’s stock after acquiring an additional 84 shares during the period. TrueWealth Advisors LLC’s holdings in Broadcom were worth $481,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. NCP Inc. increased its holdings in Broadcom by 615.4% in the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after buying an additional 400 shares during the last quarter. ProVise Management Group LLC purchased a new position in shares of Broadcom in the 2nd quarter valued at about $318,000. AE Wealth Management LLC raised its position in shares of Broadcom by 20.5% during the 2nd quarter. AE Wealth Management LLC now owns 4,681 shares of the semiconductor manufacturer’s stock worth $7,515,000 after acquiring an additional 797 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Broadcom by 1.4% during the second quarter. Pacer Advisors Inc. now owns 69,557 shares of the semiconductor manufacturer’s stock worth $111,676,000 after purchasing an additional 931 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Broadcom by 9.8% in the second quarter. Sei Investments Co. now owns 268,735 shares of the semiconductor manufacturer’s stock valued at $431,479,000 after purchasing an additional 23,949 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of AVGO stock opened at $237.44 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market cap of $1.11 trillion, a PE ratio of 193.67, a P/E/G ratio of 2.35 and a beta of 1.03. Broadcom Inc. has a 1 year low of $112.19 and a 1 year high of $251.88. The stock has a fifty day moving average price of $202.01 and a 200 day moving average price of $178.14.

Broadcom (NASDAQ:AVGO) last released 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. 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. Sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AVGO. Robert W. Baird boosted their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Barclays upped their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group lifted their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Mizuho upped their target price on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. lifted their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Three 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.83.

Insider Buying and Selling at Broadcom

In related news, Director Harry L. You sold 6,540 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the sale, the chief executive officer now owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by 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.