Sound View Wealth Advisors Group LLC Grows Stake in Broadcom Inc. (NASDAQ:AVGO)

Sound View Wealth Advisors Group LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,588 shares of the semiconductor manufacturer's stock after purchasing an additional 2,727 shares during the period. Broadcom accounts for about 1.0% of Sound View Wealth Advisors Group LLC's holdings, making the stock its 27th biggest position. Sound View Wealth Advisors Group LLC's holdings in Broadcom were worth $12,192,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Canton Hathaway LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new position in Broadcom in the 4th quarter valued at $26,000. Bellevue Asset Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at $33,000. Pin Oak Investment Advisors Inc. increased its holdings in shares of Broadcom by 900.0% in the third 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 during the period. Finally, Synergy Investment Management LLC purchased a new position in Broadcom during the fourth quarter worth about $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AVGO shares. Piper Sandler lifted their target price 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 raised their price objective on Broadcom from $175.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research note on Friday. Hsbc Global Res raised shares of Broadcom to a "hold" rating in a research note on Tuesday, December 3rd. Finally, Bank of America lifted their target price on shares of Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and an average target price of $231.48.

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Broadcom Stock Up 8.6 %

Shares of Broadcom stock traded up $15.51 during trading on Friday, hitting $194.96. The company's stock had a trading volume of 74,457,084 shares, compared to its average volume of 29,443,255. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a market capitalization of $913.85 billion, a PE ratio of 159.02, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a fifty day simple moving average of $222.28 and a two-hundred day simple moving average of $193.12. 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 announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The business's revenue for the quarter was up 51.2% on a year-over-year basis. Equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom's payout ratio is 191.87%.

Insiders Place Their Bets

In related news, Director Diane M. Bryant sold 15,000 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now directly owns 6,460 shares of the company's stock, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction 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 completion of the sale, the director now directly owns 46,400 shares of the company's stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by corporate insiders.

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.