HCR Wealth Advisors Buys Shares of 282 Broadcom Inc. (NASDAQ:AVGO)

HCR Wealth Advisors purchased a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 282 shares of the semiconductor manufacturer’s stock, valued at approximately $315,000.

Other institutional investors also recently modified their holdings of the company. WealthPlan Investment Management LLC bought a new stake in shares of Broadcom in the 3rd quarter valued at $435,000. Wilbanks Smith & Thomas Asset Management LLC increased its stake in Broadcom by 3.1% in the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,443 shares of the semiconductor manufacturer’s stock valued at $2,860,000 after purchasing an additional 103 shares in the last quarter. Meyer Handelman Co. acquired a new position in shares of Broadcom during the third quarter valued at about $249,000. Capital Wealth Planning LLC bought a new position in shares of Broadcom during the 3rd quarter worth about $615,000. Finally, Donoghue Forlines LLC grew its stake in shares of Broadcom by 2.8% in the 3rd quarter. Donoghue Forlines LLC now owns 2,625 shares of the semiconductor manufacturer’s stock valued at $2,180,000 after buying an additional 71 shares during the period. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO traded up $14.55 during trading on Friday, reaching $1,407.84. The company’s stock had a trading volume of 1,672,996 shares, compared to its average volume of 2,139,019. Broadcom Inc. has a 12 month low of $690.77 and a 12 month high of $1,445.40. The firm has a market cap of $652.42 billion, a price-to-earnings ratio of 52.18, a price-to-earnings-growth ratio of 2.78 and a beta of 1.25. The firm has a 50 day moving average of $1,324.64 and a 200-day moving average of $1,200.72. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.83 earnings per share. Research analysts expect that Broadcom Inc. will post 36.06 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.49%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays increased their price target on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Jefferies Financial Group began coverage on Broadcom in a report on Monday, May 13th. They issued a “buy” rating and a $1,550.00 target price on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research note on Monday, April 8th. Evercore ISI assumed coverage on shares of Broadcom in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price objective on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average price target of $1,296.91.

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.