Kades & Cheifetz LLC Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Kades & Cheifetz LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,623 shares of the semiconductor manufacturer’s stock after purchasing an additional 51 shares during the period. Kades & Cheifetz LLC’s holdings in Broadcom were worth $1,536,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Bridge Creek Capital Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at $226,000. Accelerate Investment Advisors LLC grew its stake in Broadcom by 58.7% in the fourth quarter. Accelerate Investment Advisors LLC now owns 2,070 shares of the semiconductor manufacturer’s stock valued at $480,000 after purchasing an additional 766 shares during the last quarter. Cooper Financial Group raised its holdings in Broadcom by 7.1% in the fourth quarter. Cooper Financial Group now owns 58,475 shares of the semiconductor manufacturer’s stock worth $13,557,000 after purchasing an additional 3,861 shares in the last quarter. Wedmont Private Capital lifted its position in shares of Broadcom by 10.6% during the fourth quarter. Wedmont Private Capital now owns 50,228 shares of the semiconductor manufacturer’s stock valued at $11,267,000 after buying an additional 4,816 shares during the last quarter. Finally, Westmount Partners LLC boosted its holdings in shares of Broadcom by 0.6% in the 4th quarter. Westmount Partners LLC now owns 48,419 shares of the semiconductor manufacturer’s stock valued at $11,225,000 after buying an additional 290 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $225.29 on Tuesday. The firm has a fifty day moving average price of $198.03 and a 200 day moving average price of $176.17. Broadcom Inc. has a 1 year low of $109.02 and a 1 year high of $251.88. The stock has a market cap of $1.06 trillion, a P/E ratio of 195.73, a P/E/G ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The company’s revenue was up 51.2% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. Broadcom’s payout ratio is 191.87%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AVGO. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Truist Financial increased their price objective on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald boosted their target price on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Morgan Stanley increased their price target on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, William Blair began coverage on Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $223.54.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the transaction, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. The trade was a 69.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by corporate insiders.

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.