Wetzel Investment Advisors Inc. Buys Shares of 405 Broadcom Inc. (NASDAQ:AVGO)

Wetzel Investment Advisors Inc. bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 405 shares of the semiconductor manufacturer’s stock, valued at approximately $452,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BKM Wealth Management LLC bought a new position in shares of Broadcom in the 4th quarter worth approximately $29,000. CKW Financial Group bought a new position in shares of Broadcom in the 4th quarter worth approximately $30,000. Macroview Investment Management LLC bought a new position in shares of Broadcom in the 3rd quarter worth approximately $29,000. PrairieView Partners LLC raised its stake in Broadcom by 178.6% during the 4th quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock worth $44,000 after acquiring an additional 25 shares during the period. Finally, Rise Advisors LLC raised its stake in Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after acquiring an additional 10 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Barclays raised their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday. Susquehanna increased their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Finally, Cantor Fitzgerald increased their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now owns 45 shares in the company, valued at $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the sale, the director now owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated 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 sale, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 over the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom Trading Down 4.3 %

Shares of NASDAQ:AVGO traded down $54.28 on Friday, hitting $1,204.71. 4,477,530 shares of the company’s stock were exchanged, compared to its average volume of 2,968,402. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The stock has a market capitalization of $558.29 billion, a price-to-earnings ratio of 44.65, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. The business’s 50 day simple moving average is $1,305.11 and its two-hundred day simple moving average is $1,118.75. 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 released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period last year, the company earned $9.83 earnings per share. Analysts anticipate that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Announces Dividend

The business 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 1.74%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

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.