Ritholtz Wealth Management Purchases 1,108 Shares of Broadcom Inc. (NASDAQ:AVGO)

Ritholtz Wealth Management grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 82,404 shares of the semiconductor manufacturer's stock after acquiring an additional 1,108 shares during the period. Broadcom accounts for approximately 0.6% of Ritholtz Wealth Management's investment portfolio, making the stock its 27th biggest position. Ritholtz Wealth Management's holdings in Broadcom were worth $19,105,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AVGO. Castleview Partners LLC increased its holdings in Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 134 shares during the period. Pin Oak Investment Advisors Inc. increased its holdings in 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 holdings in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock valued at $32,000 after purchasing an additional 172 shares during the period. Tsfg LLC increased its holdings in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after purchasing an additional 204 shares during the period. Finally, Cedar Wealth Management LLC increased its holdings in Broadcom by 900.0% in the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer's stock valued at $41,000 after purchasing an additional 216 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the business's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 12,570 shares of the business's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the transaction, the chief financial officer now owns 325,443 shares in the company, valued at $74,728,221.66. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO traded up $8.03 during mid-day trading on Friday, reaching $237.44. 31,036,592 shares of the company were exchanged, compared to its average volume of 41,590,264. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $1.11 trillion, a PE ratio of 193.67, a PEG ratio of 2.35 and a beta of 1.03. The company's 50 day moving average price is $202.01 and its 200 day moving average price is $178.14. Broadcom Inc. has a 52 week low of $112.19 and a 52 week high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm's revenue for the quarter was up 51.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. Sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.59 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 0.99%. Broadcom's payout ratio is presently 192.50%.

Analysts Set New Price Targets

A number of research firms recently weighed in on AVGO. Benchmark restated a "buy" rating and issued a $255.00 price objective (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Truist Financial increased their price target on Broadcom from $205.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Piper Sandler increased their price target on Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Jefferies Financial Group increased their price target on Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Finally, Hsbc Global Res upgraded Broadcom to a "hold" rating in a report on Tuesday, December 3rd. Three 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 data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $225.83.

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.