3,840 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by SMART Wealth LLC

SMART Wealth LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,840 shares of the semiconductor manufacturer’s stock, valued at approximately $662,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Broadcom during the second quarter valued at approximately $128,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Broadcom in the 2nd quarter worth $136,000. American Capital Advisory LLC bought a new stake in shares of Broadcom in the 2nd quarter worth $169,000. Semus Wealth Partners LLC purchased a new stake in shares of Broadcom in the second quarter valued at about $202,000. Finally, Palisades Hudson Asset Management L.P. bought a new position in shares of Broadcom during the second quarter valued at about $204,000. 76.43% of the stock is owned by institutional investors.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of several analyst reports. Susquehanna increased their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday. Bank of America lifted their price target on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler raised their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday. Citigroup boosted their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Truist Financial raised their price objective on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday. Three equities research 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, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $220.33.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $224.80 on Monday. Broadcom Inc. has a 12 month low of $104.15 and a 12 month high of $228.70. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a market cap of $1.05 trillion, a P/E ratio of 182.76, a P/E/G ratio of 2.15 and a beta of 1.13. The company has a 50 day moving average of $174.61 and a 200 day moving average of $164.45.

Broadcom (NASDAQ:AVGO) last released its quarterly 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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The business’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, sell-side analysts forecast that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 172.36%.

Broadcom Company 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.