Sax Wealth Advisors LLC Purchases 318 Shares of Broadcom Inc. (NASDAQ:AVGO)

Sax Wealth Advisors LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,588 shares of the semiconductor manufacturer’s stock after buying an additional 318 shares during the period. Sax Wealth Advisors LLC’s holdings in Broadcom were worth $1,296,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Kades & Cheifetz LLC increased its holdings in shares of Broadcom by 0.8% during the fourth quarter. Kades & Cheifetz LLC now owns 6,623 shares of the semiconductor manufacturer’s stock valued at $1,536,000 after acquiring an additional 51 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Broadcom by 0.5% during the fourth quarter. Sivia Capital Partners LLC now owns 9,584 shares of the semiconductor manufacturer’s stock worth $2,222,000 after buying an additional 52 shares during the period. HCR Wealth Advisors grew its stake in Broadcom by 0.4% during the 4th quarter. HCR Wealth Advisors now owns 12,322 shares of the semiconductor manufacturer’s stock valued at $2,857,000 after purchasing an additional 53 shares during the last quarter. Richardson Financial Services Inc. boosted its position in Broadcom by 2.4% in the third quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock valued at $415,000 after buying an additional 59 shares during the last quarter. Finally, Meyer Handelman Co. increased its stake in shares of Broadcom by 2.0% in the fourth quarter. Meyer Handelman Co. now owns 3,073 shares of the semiconductor manufacturer’s stock worth $712,000 after acquiring an additional 59 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Benchmark reiterated a “buy” rating and set a $255.00 price target (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Citigroup upped their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Rosenblatt Securities restated a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Bank of America increased their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Susquehanna boosted their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $225.83.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the company’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 sale, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom 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 of the company’s stock, valued at $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 over the last three months. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Broadcom stock opened at $237.44 on Friday. The company’s 50 day simple moving average is $202.01 and its 200-day simple moving average is $178.14. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 1 year low of $112.19 and a 1 year high of $251.88. The company has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating 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 company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.99%. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is currently 192.50%.

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.