Ellsworth Advisors LLC Buys Shares of 9,379 Broadcom Inc. (NASDAQ:AVGO)

Ellsworth Advisors LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,379 shares of the semiconductor manufacturer's stock, valued at approximately $2,174,000.

Other large investors have also recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN bought a new stake in shares of Broadcom in the 2nd quarter valued at approximately $228,000. Security National Bank of Sioux City Iowa IA purchased a new position in Broadcom during the second quarter worth $234,000. Castleview Partners LLC raised its stake in shares of 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 acquiring an additional 134 shares during the period. Pin Oak Investment Advisors Inc. lifted its holdings in shares of 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 acquiring an additional 135 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Broadcom during the 4th quarter worth about $37,000. 76.43% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 321,660 shares of the company's stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, the director now owns 113,050 shares in the company, valued at $26,606,317.50. The trade was a 29.80 % decrease in their position. 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 over the last 90 days. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

NASDAQ:AVGO traded up $2.87 during trading hours on Tuesday, hitting $240.31. The company's stock had a trading volume of 30,766,885 shares, compared to its average volume of 25,676,523. The business's 50-day moving average is $203.18 and its two-hundred day moving average is $178.65. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market capitalization of $1.13 trillion, a PE ratio of 196.01, a PEG ratio of 2.48 and a beta of 1.03. Broadcom Inc. has a 52-week low of $117.43 and a 52-week high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the firm earned $0.98 EPS. The business's revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, research analysts anticipate 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 was Monday, December 23rd. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.98%. Broadcom's payout ratio is 192.50%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Cantor Fitzgerald raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Jefferies Financial Group raised their price target on Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. TD Cowen upped their price objective on Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Morgan Stanley lifted their target price on Broadcom from $233.00 to $265.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. Finally, Bank of America upped their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $225.83.

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.