Alliance Wealth Advisors LLC Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Alliance Wealth Advisors LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,597 shares of the semiconductor manufacturer’s stock after buying an additional 288 shares during the period. Alliance Wealth Advisors LLC’s holdings in Broadcom were worth $834,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Castleview Partners LLC increased its holdings in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its position in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the period. JDM Financial Group LLC increased its stake in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Broadcom during the 4th quarter worth about $37,000. Finally, Tsfg LLC raised its position in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $235.04 on Wednesday. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The firm has a market cap of $1.10 trillion, a PE ratio of 191.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The company has a 50-day moving average of $221.13 and a two-hundred day moving average of $185.16. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO) last posted 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. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter last year, the company posted $0.98 EPS. On average, analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 192.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AVGO shares. Evercore ISI boosted their price objective on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Susquehanna boosted their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Barclays raised their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Morgan Stanley dropped their target price on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Citigroup raised their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Insider Buying and Selling

In other news, CFO Kirsten M. Spears sold 12,570 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $229.62, for a total value of $2,886,323.40. Following the sale, the chief financial officer now directly owns 325,443 shares in the company, valued at approximately $74,728,221.66. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

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.