Aspen Wealth Strategies LLC Increases Holdings in Broadcom Inc. (NASDAQ:AVGO)

Aspen Wealth Strategies LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 121.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,567 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,410 shares during the quarter. Broadcom makes up approximately 2.1% of Aspen Wealth Strategies LLC’s holdings, making the stock its 11th largest position. Aspen Wealth Strategies LLC’s holdings in Broadcom were worth $2,865,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Norges Bank bought a new position in Broadcom in the 4th quarter valued at approximately $2,222,676,000. Moneta Group Investment Advisors LLC lifted its position in Broadcom by 122,794.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock valued at $2,050,420,000 after acquiring an additional 3,664,177 shares in the last quarter. International Assets Investment Management LLC lifted its position in Broadcom by 113,495.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after acquiring an additional 3,324,288 shares in the last quarter. Providence Capital Advisors LLC lifted its position in Broadcom by 49,919.1% in the 1st quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock valued at $3,799,000 after acquiring an additional 2,432,559 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Broadcom by 43.9% in the 3rd 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 in the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $4,064,571.00. Following the sale, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 1.4 %

Shares of NASDAQ:AVGO traded up $18.37 during trading on Tuesday, reaching $1,329.06. 1,890,746 shares of the company were exchanged, compared to its average volume of 2,960,501. The firm has a market capitalization of $615.91 billion, a PE ratio of 48.76, a P/E/G ratio of 2.74 and a beta of 1.25. The business’s fifty day simple moving average is $1,304.36 and its 200-day simple moving average is $1,110.50. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. 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 (NASDAQ:AVGO) last issued its quarterly earnings data 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 company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue was up 34.2% compared to the same quarter last year. During the same period last year, the company posted $9.83 earnings per share. On average, research analysts anticipate that Broadcom Inc. will post 35.95 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.58%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. UBS Group upped their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $1,281.09.

About Broadcom

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.