Sheets Smith Wealth Management Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

Sheets Smith Wealth Management lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,373 shares of the semiconductor manufacturer’s stock after acquiring an additional 101 shares during the quarter. Sheets Smith Wealth Management’s holdings in Broadcom were worth $782,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Capstone Wealth Management LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $261,000. Aspire Private Capital LLC lifted its position in shares of Broadcom by 25.0% during the 4th quarter. Aspire Private Capital LLC now owns 12,362 shares of the semiconductor manufacturer’s stock valued at $2,866,000 after buying an additional 2,474 shares in the last quarter. Verum Partners LLC grew its stake in Broadcom by 2.1% in the 4th quarter. Verum Partners LLC now owns 7,677 shares of the semiconductor manufacturer’s stock valued at $1,780,000 after acquiring an additional 157 shares during the period. Octavia Wealth Advisors LLC increased its holdings in Broadcom by 0.8% in the 4th quarter. Octavia Wealth Advisors LLC now owns 9,588 shares of the semiconductor manufacturer’s stock worth $2,223,000 after acquiring an additional 78 shares in the last quarter. Finally, Commons Capital LLC raised its position in Broadcom by 1.2% during the fourth quarter. Commons Capital LLC now owns 20,526 shares of the semiconductor manufacturer’s stock worth $4,759,000 after acquiring an additional 237 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In related news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

AVGO stock opened at $240.28 on Friday. Broadcom Inc. has a 52-week low of $117.43 and a 52-week high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 195.99, a price-to-earnings-growth ratio of 2.51 and a beta of 1.03. The business has a fifty day moving average of $205.81 and a two-hundred day moving average of $179.64.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the company earned $0.98 EPS. The company’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AVGO. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Cantor Fitzgerald boosted their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Barclays raised their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Jefferies Financial Group boosted their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Citigroup raised their price objective on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.83.

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.