Meadow Creek Wealth Advisors LLC Buys Shares of 1,614 Broadcom Inc. (NASDAQ:AVGO)

Meadow Creek Wealth Advisors LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,614 shares of the semiconductor manufacturer’s stock, valued at approximately $1,802,000. Broadcom comprises approximately 1.8% of Meadow Creek Wealth Advisors LLC’s investment portfolio, making the stock its 10th biggest position.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Broadcom in the fourth quarter valued at about $2,222,676,000. Moneta Group Investment Advisors LLC grew its stake in Broadcom by 122,794.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock worth $2,050,420,000 after purchasing an additional 3,664,177 shares during the period. Providence Capital Advisors LLC grew its stake in Broadcom by 49,919.1% during the first quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock worth $3,799,000 after purchasing an additional 2,432,559 shares during the period. Wellington Management Group LLP grew its stake in Broadcom by 43.9% in the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after acquiring an additional 1,228,755 shares during the period. Finally, Barclays PLC grew its stake in Broadcom by 126.5% in the second quarter. Barclays PLC now owns 1,468,758 shares of the semiconductor manufacturer’s stock valued at $1,274,044,000 after acquiring an additional 820,402 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the transaction, the chief financial officer now directly owns 26,880 shares in the company, valued at $28,039,603.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the transaction, the chief financial officer now owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,810 shares of company stock worth $26,107,692. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO traded up $6.68 during mid-day trading on Thursday, hitting $1,325.41. The stock had a trading volume of 1,984,981 shares, compared to its average volume of 3,096,293. The firm has a market cap of $614.22 billion, a P/E ratio of 49.04, a PEG ratio of 2.81 and a beta of 1.26. The business has a fifty day moving average price of $1,271.85 and a 200-day moving average price of $1,063.26. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the company posted $9.83 earnings per share. On average, equities research analysts expect that Broadcom Inc. will post 36.8 EPS for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 21st will be given a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Analyst Ratings Changes

AVGO has been the subject of a number of research reports. Cantor Fitzgerald raised their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Mizuho raised their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Citigroup reissued a “buy” rating and issued a $1,100.00 price objective on shares of Broadcom in a research note on Monday, December 11th. Summit Insights raised Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, December 8th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,230.18.

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.