282 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by HCR Wealth Advisors

HCR Wealth Advisors purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 282 shares of the semiconductor manufacturer’s stock, valued at approximately $315,000.

Several other large investors have also recently added to or reduced their stakes in AVGO. Stuart Chaussee & Associates Inc. acquired a new stake in Broadcom in the 4th quarter valued at $25,000. PSI Advisors LLC increased its position in Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 10 shares in the last quarter. BKM Wealth Management LLC bought a new position in shares of Broadcom in the fourth quarter worth about $29,000. CKW Financial Group acquired a new position in shares of Broadcom during the fourth quarter worth approximately $30,000. Finally, Bfsg LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Monday, April 8th. UBS Group lifted their price target on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, Mizuho increased their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,296.91.

Broadcom Stock Up 1.0 %

Shares of Broadcom stock traded up $14.55 on Friday, hitting $1,407.84. The company had a trading volume of 1,672,996 shares, compared to its average volume of 2,139,019. Broadcom Inc. has a twelve month low of $690.77 and a twelve month high of $1,445.40. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock has a 50-day moving average of $1,324.64 and a 200-day moving average of $1,200.72. The firm has a market capitalization of $652.42 billion, a P/E ratio of 52.18, a P/E/G ratio of 2.78 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.83 EPS. Research analysts predict that Broadcom Inc. will post 36.06 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the transaction, the insider now owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the transaction, the insider now directly owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

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.