West Wealth Group LLC Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

West Wealth Group LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,233 shares of the semiconductor manufacturer's stock after acquiring an additional 1,554 shares during the quarter. Broadcom comprises 0.8% of West Wealth Group LLC's holdings, making the stock its 22nd largest position. West Wealth Group LLC's holdings in Broadcom were worth $2,604,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Heartland Bank & Trust Co increased its position in shares of Broadcom by 1.7% in the fourth quarter. Heartland Bank & Trust Co now owns 17,135 shares of the semiconductor manufacturer's stock worth $3,973,000 after purchasing an additional 285 shares during the period. Webster Bank N. A. raised its position in shares of Broadcom by 2.4% in the 4th quarter. Webster Bank N. A. now owns 10,949 shares of the semiconductor manufacturer's stock valued at $2,538,000 after buying an additional 256 shares in the last quarter. Center For Asset Management LLC lifted its holdings in shares of Broadcom by 1.0% during the 4th quarter. Center For Asset Management LLC now owns 12,156 shares of the semiconductor manufacturer's stock worth $2,818,000 after acquiring an additional 115 shares during the period. United Asset Strategies Inc. boosted its position in shares of Broadcom by 1.4% during the 4th quarter. United Asset Strategies Inc. now owns 16,119 shares of the semiconductor manufacturer's stock worth $3,737,000 after acquiring an additional 223 shares in the last quarter. Finally, waypoint wealth counsel increased its stake in Broadcom by 4.4% in the fourth quarter. waypoint wealth counsel now owns 3,916 shares of the semiconductor manufacturer's stock valued at $908,000 after acquiring an additional 165 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AVGO shares. TD Cowen raised their target price on Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a report on Friday, December 13th. Susquehanna lifted 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. Robert W. Baird raised their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Finally, Mizuho boosted their target price on shares of Broadcom from $245.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, January 10th. 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 stock has a consensus rating of "Moderate Buy" and an average price target of $225.04.

Broadcom Stock Up 4.5 %

Shares of AVGO traded up $9.31 on Thursday, reaching $215.66. The company's stock had a trading volume of 42,311,581 shares, compared to its average volume of 31,396,859. The stock has a market capitalization of $1.01 trillion, a PE ratio of 175.91, a PEG ratio of 2.52 and a beta of 1.03. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $117.43 and a twelve month high of $251.88. The firm has a fifty day moving average of $211.24 and a 200-day moving average of $181.27.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $14.07 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Broadcom's quarterly revenue was up 51.2% on a year-over-year basis. Equities analysts predict 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 given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.09%. Broadcom's dividend payout ratio (DPR) is currently 191.87%.

Insider Transactions at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 46,400 shares of the company's stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Check Kian Low sold 48,000 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last ninety days. Company insiders own 2.00% of the company's stock.

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.