Keystone Wealth Services LLC Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

Keystone Wealth Services LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,082 shares of the semiconductor manufacturer’s stock after acquiring an additional 70 shares during the quarter. Keystone Wealth Services LLC’s holdings in Broadcom were worth $715,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC bought a new stake in shares of Broadcom in the 4th quarter worth about $26,000. Pin Oak Investment Advisors Inc. lifted its position in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Broadcom in the fourth quarter worth about $37,000. R Squared Ltd bought a new stake in Broadcom in the fourth quarter valued at about $39,000. Finally, JDM Financial Group LLC raised its stake in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 6.0 %

Broadcom stock opened at $187.37 on Tuesday. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market capitalization of $878.27 billion, a PE ratio of 152.83, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. The firm has a 50 day simple moving average of $226.54 and a 200-day simple moving average of $192.50.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for 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 business’s revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. As a group, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.26%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 191.87%.

Insider Activity at Broadcom

In other news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AVGO has been the subject of several research reports. Piper Sandler lifted their target price on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. UBS Group lifted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Rosenblatt Securities reiterated a “buy” rating and set a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Morgan Stanley reduced their price target on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom 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.