Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by BKM Wealth Management LLC

BKM Wealth Management LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 36.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,258 shares of the semiconductor manufacturer's stock after acquiring an additional 3,264 shares during the quarter. Broadcom accounts for approximately 1.2% of BKM Wealth Management LLC's investment portfolio, making the stock its 20th largest position. BKM Wealth Management LLC's holdings in Broadcom were worth $2,842,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AVGO. State Street Corp grew its holdings in shares of Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer's stock worth $31,814,902,000 after purchasing an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Broadcom by 976.6% during the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer's stock worth $17,055,760,000 after purchasing an additional 89,975,941 shares during the period. FMR LLC grew its stake in shares of Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer's stock worth $15,594,088,000 after purchasing an additional 82,998,328 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock valued at $6,209,758,000 after buying an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Broadcom by 975.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer's stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last 90 days. Company insiders own 2.00% of the company's stock.

Broadcom Trading Down 3.6 %

Broadcom stock traded down $8.13 during mid-day trading on Friday, hitting $218.61. The company's stock had a trading volume of 24,786,947 shares, compared to its average volume of 27,613,346. The business has a 50 day moving average price of $230.21 and a 200-day moving average price of $189.26. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a market cap of $1.02 trillion, a price-to-earnings ratio of 178.32, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business's quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. As a group, analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is currently 191.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. UBS Group lifted their target price on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price objective on Broadcom from $190.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Rosenblatt Securities restated a "buy" rating and set a $240.00 price target on shares of Broadcom in a report on Wednesday, December 11th. Susquehanna raised their target price on Broadcom from $200.00 to $225.00 and gave the company a "positive" rating in a research report on Friday, December 13th. Finally, Barclays upped their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Three 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 a consensus rating of "Moderate Buy" and a consensus price target of $225.04.

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.