Heritage Wealth Partners LLC Makes New $218,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Heritage Wealth Partners LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 195 shares of the semiconductor manufacturer’s stock, valued at approximately $218,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC boosted its holdings in shares of Broadcom by 76.5% in the 3rd quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 13 shares in the last quarter. Bollard Group LLC purchased a new stake in Broadcom in the second quarter worth approximately $26,000. Macroview Investment Management LLC bought a new position in Broadcom during the third quarter valued at approximately $29,000. BKM Wealth Management LLC purchased a new position in shares of Broadcom during the fourth quarter worth approximately $29,000. Finally, Indiana Trust & Investment Management CO bought a new stake in shares of Broadcom in the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction dated 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 sale, the chief financial officer now directly owns 26,880 shares in the company, valued at approximately $28,039,603.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction dated 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 sale, 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 Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,810 shares of company stock valued at $26,107,692. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

NASDAQ:AVGO traded up $6.68 during trading hours on Friday, reaching $1,325.41. The company had a trading volume of 1,985,552 shares, compared to its average volume of 4,170,809. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The business’s 50 day moving average price is $1,275.48 and its 200-day moving average price is $1,065.08. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The firm has a market cap of $614.22 billion, a PE ratio of 49.13, a price-to-earnings-growth ratio of 2.78 and a beta of 1.26.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion during 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%. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.83 EPS. Research analysts forecast that Broadcom Inc. will post 36.8 EPS for the current year.

Broadcom Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AVGO shares. Citigroup reiterated a “buy” rating and issued a $1,100.00 target price on shares of Broadcom in a research report on Monday, December 11th. Rosenblatt Securities reissued a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Susquehanna raised their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Barclays started coverage on shares of Broadcom in a research report on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 price target for the company. Finally, Truist Financial boosted their price objective on shares of Broadcom from $995.00 to $1,015.00 and gave the company a “buy” rating in a research report on Friday, December 8th. Three analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.