Transform Wealth LLC Has $42.19 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Transform Wealth LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 181,972 shares of the semiconductor manufacturer’s stock after buying an additional 9,505 shares during the period. Broadcom accounts for about 2.3% of Transform Wealth LLC’s portfolio, making the stock its 5th largest position. Transform Wealth LLC’s holdings in Broadcom were worth $42,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in AVGO. NCP Inc. increased its position in Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after purchasing an additional 400 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its position in Broadcom by 257.1% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,167 shares of the semiconductor manufacturer’s stock valued at $19,535,000 after purchasing an additional 8,760 shares during the period. APG Asset Management US Inc. increased its position in Broadcom by 1.8% during the 2nd quarter. APG Asset Management US Inc. now owns 158,744 shares of the semiconductor manufacturer’s stock valued at $260,467,000 after purchasing an additional 2,795 shares during the period. Element Pointe Advisors LLC grew its position in shares of Broadcom by 112.8% in the 2nd quarter. Element Pointe Advisors LLC now owns 566 shares of the semiconductor manufacturer’s stock worth $909,000 after buying an additional 300 shares during the last quarter. Finally, EDENTREE ASSET MANAGEMENT Ltd grew its position in shares of Broadcom by 15.7% in the 2nd quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 1,133 shares of the semiconductor manufacturer’s stock worth $1,819,000 after buying an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citigroup lifted their price objective 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. Jefferies Financial Group lifted their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Benchmark reaffirmed a “buy” rating and issued a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their target price 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. Finally, Morgan Stanley lifted their target price on shares of Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.83.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of Broadcom stock opened at $240.28 on Friday. Broadcom Inc. has a 52 week low of $117.43 and a 52 week high of $251.88. The business’s fifty day simple moving average is $205.81 and its 200-day simple moving average is $179.64. The firm has a market cap of $1.13 trillion, a PE ratio of 195.99, a price-to-earnings-growth ratio of 2.51 and a beta of 1.03. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last issued 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 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 the consensus estimate of $14.07 billion. During the same quarter in the prior year, the business earned $0.98 EPS. Broadcom’s revenue was up 51.2% on a year-over-year basis. Equities analysts forecast that Broadcom Inc. will post 5.38 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 dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is currently 192.50%.

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.