Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Kellett Wealth Advisors LLC

Kellett Wealth Advisors LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,461 shares of the semiconductor manufacturer’s stock after acquiring an additional 233 shares during the period. Broadcom accounts for 0.7% of Kellett Wealth Advisors LLC’s holdings, making the stock its 22nd largest position. Kellett Wealth Advisors LLC’s holdings in Broadcom were worth $1,034,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Fjell Capital LLC acquired a new stake in shares of Broadcom in the fourth quarter worth approximately $2,385,000. Advisor OS LLC boosted its stake in Broadcom by 12.6% during the fourth quarter. Advisor OS LLC now owns 15,806 shares of the semiconductor manufacturer’s stock worth $3,664,000 after buying an additional 1,763 shares during the last quarter. GraniteShares Advisors LLC acquired a new position in Broadcom during the fourth quarter worth $4,181,000. Denali Advisors LLC boosted its stake in Broadcom by 14.6% during the fourth quarter. Denali Advisors LLC now owns 61,406 shares of the semiconductor manufacturer’s stock worth $14,236,000 after buying an additional 7,825 shares during the last quarter. Finally, Lake Street Advisors Group LLC boosted its stake in Broadcom by 57.8% during the fourth quarter. Lake Street Advisors Group LLC now owns 108,354 shares of the semiconductor manufacturer’s stock worth $25,121,000 after buying an additional 39,680 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Truist Financial boosted their price objective on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Morgan Stanley lowered their price objective on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Citigroup boosted their price objective on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. 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. Finally, Bank of America upped their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated 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 directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 in the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $197.80 on Friday. The stock’s 50-day moving average is $227.87 and its two-hundred day moving average is $191.51. 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 Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a market cap of $927.16 billion, a price-to-earnings ratio of 161.34, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02.

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. Analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.19%. Broadcom’s dividend payout ratio is 191.87%.

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.