Heritage Wealth Management Inc. CA Acquires New Shares in Broadcom Inc. (NASDAQ:AVGO)

Heritage Wealth Management Inc. CA bought a new position in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,489 shares of the semiconductor manufacturer’s stock, valued at approximately $345,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division boosted its stake in Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after purchasing an additional 3,707 shares during the period. Wolff Financial Management LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $244,000. Strait & Sound Wealth Management LLC boosted its position in shares of Broadcom by 829.8% during the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after buying an additional 7,095 shares during the period. Motive Wealth Advisors grew its holdings in Broadcom by 1,076.5% in the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after buying an additional 4,209 shares in the last quarter. Finally, Tidal Investments LLC increased its position in Broadcom by 969.3% in the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock valued at $66,696,000 after acquiring an additional 350,485 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

Shares of AVGO opened at $191.25 on Tuesday. The company has a 50-day moving average of $213.70 and a two-hundred day moving average of $195.64. The stock has a market cap of $899.25 billion, a price-to-earnings ratio of 156.00, a PEG ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is 113.46%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. boosted 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. TD Cowen upped their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Bank of America raised their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Morgan Stanley upped their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Finally, KeyCorp raised their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $231.48.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,000 shares of company stock worth $21,494,560. Corporate insiders own 2.00% of the company’s stock.

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.