Client 1ST Advisory Group LLC Purchases Shares of 1,642 Broadcom Inc. (NASDAQ:AVGO)

Client 1ST Advisory Group LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,642 shares of the semiconductor manufacturer's stock, valued at approximately $381,000.

Several other large investors have also made changes to their positions in AVGO. Castleview Partners LLC grew its holdings in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in Broadcom by 900.0% in the 3rd 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 in the last quarter. JDM Financial Group LLC boosted its holdings in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock worth $32,000 after purchasing an additional 172 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $37,000. Finally, Tsfg LLC lifted its position in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after buying an additional 204 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the business'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 transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 321,660 shares of the company's stock, valued at $76,809,191.40. This represents a 5.90 % 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 valued at $44,964,800 over the last quarter. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Performance

NASDAQ AVGO traded up $2.87 during trading hours on Tuesday, hitting $240.31. The company had a trading volume of 30,766,885 shares, compared to its average volume of 25,676,523. The business has a 50 day moving average of $203.18 and a 200-day moving average of $178.65. The company has a market cap of $1.13 trillion, a PE ratio of 196.01, a price-to-earnings-growth ratio of 2.48 and a beta of 1.03. Broadcom Inc. has a 1-year low of $117.43 and a 1-year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm's quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. As a group, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced 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 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 dividend yield of 0.98%. Broadcom's dividend payout ratio is 192.50%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their target price on Broadcom from $190.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Bank of America increased their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Piper Sandler lifted their price target on shares of Broadcom from $200.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Citigroup boosted their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Finally, TD Cowen lifted their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.83.

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.