Wambolt & Associates LLC Acquires 5,942 Shares of Broadcom Inc. (NASDAQ:AVGO)

Wambolt & Associates LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 125.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,666 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,942 shares during the quarter. Wambolt & Associates LLC’s holdings in Broadcom were worth $2,473,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the sale, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction that occurred on 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 in the company, valued at $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,000 shares of company stock valued at $21,494,560 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. William Blair restated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Barclays upped their target price on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. JPMorgan Chase & Co. raised their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, KeyCorp upped their price target on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Trading Down 0.2 %

Shares of AVGO stock opened at $191.25 on Tuesday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The firm has a fifty day moving average price of $213.70 and a 200-day moving average price of $195.64. The company 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given 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 payout ratio is 113.46%.

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.