Wedmont Private Capital Purchases 4,816 Shares of Broadcom Inc. (NASDAQ:AVGO)

Wedmont Private Capital increased its position in Broadcom Inc. (NASDAQ:AVGO) by 10.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,228 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,816 shares during the quarter. Wedmont Private Capital’s holdings in Broadcom were worth $11,267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. acquired a new stake in Broadcom in the 2nd quarter valued at approximately $128,000. Mark Sheptoff Financial Planning LLC bought a new position in Broadcom during the second quarter worth $136,000. Inspire Advisors LLC acquired a new position in Broadcom during the 2nd quarter valued at $211,000. RiverGlades Family Offices LLC bought a new stake in Broadcom in the 2nd quarter valued at $210,000. Finally, Madison Wealth Partners Inc bought a new stake in Broadcom in the 2nd quarter valued at $221,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AVGO. William Blair assumed coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Morgan Stanley raised their target price on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald lifted their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $223.54.

Broadcom Stock Up 0.6 %

Shares of NASDAQ AVGO traded up $1.32 during trading hours on Monday, hitting $225.63. The company had a trading volume of 13,307,774 shares, compared to its average volume of 24,554,156. The stock has a market capitalization of $1.06 trillion, a P/E ratio of 196.03, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a 1-year low of $109.02 and a 1-year high of $251.88. The firm’s 50 day moving average is $196.90 and its 200-day moving average is $175.71. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last announced 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. 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 the consensus estimate of $14.07 billion. During the same quarter last year, the firm posted $0.98 EPS. The company’s quarterly revenue was up 51.2% on a year-over-year basis. On average, analysts expect that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Insider Buying and Selling

In related news, Director Check Kian Low sold 48,000 shares of the firm’s 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 transaction, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction dated 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 completion of the transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by 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.