Heartwood Wealth Advisors LLC Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Heartwood Wealth Advisors LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 18.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,806 shares of the semiconductor manufacturer’s stock after purchasing an additional 276 shares during the period. Heartwood Wealth Advisors LLC’s holdings in Broadcom were worth $419,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. LVM Capital Management Ltd. MI boosted its holdings in Broadcom by 763.6% in the fourth quarter. LVM Capital Management Ltd. MI now owns 337,954 shares of the semiconductor manufacturer’s stock valued at $78,351,000 after purchasing an additional 298,819 shares during the period. Franklin Street Advisors Inc. NC raised its position in Broadcom by 0.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 160,264 shares of the semiconductor manufacturer’s stock valued at $37,156,000 after purchasing an additional 911 shares in the last quarter. ST Germain D J Co. Inc. boosted its stake in shares of Broadcom by 98.5% in the 4th quarter. ST Germain D J Co. Inc. now owns 2,184 shares of the semiconductor manufacturer’s stock valued at $506,000 after buying an additional 1,084 shares during the period. Baker Tilly Wealth Management LLC grew its position in shares of Broadcom by 2.5% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 8,188 shares of the semiconductor manufacturer’s stock worth $1,898,000 after buying an additional 201 shares in the last quarter. Finally, Marotta Asset Management purchased a new stake in shares of Broadcom during the fourth quarter worth approximately $223,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of Broadcom stock traded down $4.53 during trading hours on Friday, reaching $224.78. The company’s stock had a trading volume of 15,381,327 shares, compared to its average volume of 25,056,813. Broadcom Inc. has a one year low of $107.45 and a one year high of $251.88. The company’s 50 day simple moving average is $195.79 and its 200 day simple moving average is $175.31. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock has a market cap of $1.05 trillion, a P/E ratio of 195.29, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. As a group, analysts expect that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.05%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is presently 191.87%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AVGO. Rosenblatt Securities restated a “buy” rating and set a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Truist Financial increased their price target on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. William Blair assumed coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Finally, UBS Group upped their price objective on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $223.54.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 187,278 shares of company stock valued at $44,046,240. 2.00% of the stock is currently owned by corporate insiders.

About Broadcom

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.