HMV Wealth Advisors LLC Buys New Stake in Broadcom Inc. (NASDAQ:AVGO)

HMV Wealth Advisors LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 2,762 shares of the semiconductor manufacturer’s stock, valued at approximately $640,000.

Several other large investors have also recently made changes to their positions in AVGO. State Street Corp lifted its stake in shares of Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares during the period. Geode Capital Management LLC increased its holdings in Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after acquiring an additional 89,975,941 shares in the last quarter. FMR LLC increased its holdings in Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after acquiring an additional 82,998,328 shares in the last quarter. Jennison Associates LLC increased its holdings in Broadcom by 842.4% in the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after acquiring an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Broadcom by 975.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after acquiring an additional 30,674,902 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Up 2.2 %

Shares of AVGO stock opened at $195.54 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a market cap of $919.42 billion, a PE ratio of 159.50, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a 50-day moving average of $218.12 and a two-hundred day moving average of $193.68. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. On average, analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Insiders Place Their Bets

In other news, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 over the last 90 days. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AVGO shares. Truist Financial boosted their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Benchmark reissued a “buy” rating and issued a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Barclays boosted their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Piper Sandler upped their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

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.