Castle Wealth Management LLC Has $1.08 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Castle Wealth Management LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 967 shares of the semiconductor manufacturer’s stock after purchasing an additional 42 shares during the quarter. Castle Wealth Management LLC’s holdings in Broadcom were worth $1,079,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AVGO. Geneva Partners LLC increased its position in Broadcom by 8.0% in the 4th quarter. Geneva Partners LLC now owns 6,850 shares of the semiconductor manufacturer’s stock valued at $7,647,000 after acquiring an additional 509 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Broadcom in the 4th quarter valued at about $452,000. Greenleaf Trust increased its position in Broadcom by 5.6% in the 4th quarter. Greenleaf Trust now owns 10,757 shares of the semiconductor manufacturer’s stock valued at $12,008,000 after acquiring an additional 571 shares in the last quarter. John G Ullman & Associates Inc. increased its position in Broadcom by 70.9% in the 4th quarter. John G Ullman & Associates Inc. now owns 11,715 shares of the semiconductor manufacturer’s stock valued at $13,077,000 after acquiring an additional 4,862 shares in the last quarter. Finally, Resonant Capital Advisors LLC increased its position in Broadcom by 75.5% in the 4th quarter. Resonant Capital Advisors LLC now owns 2,530 shares of the semiconductor manufacturer’s stock valued at $2,824,000 after acquiring an additional 1,088 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research note on Monday, April 8th. UBS Group raised their target price on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Barclays raised their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Insider Activity

In related news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the transaction, the director now directly owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the transaction, the director now directly owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the transaction, the insider now owns 46,974 shares in the company, valued at $61,957,296.78. 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 ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Stock Down 4.3 %

Shares of NASDAQ AVGO traded down $54.28 during midday trading on Friday, reaching $1,204.71. The company’s stock had a trading volume of 4,477,530 shares, compared to its average volume of 2,968,402. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The stock has a market capitalization of $558.29 billion, a price-to-earnings ratio of 44.65, a PEG ratio of 2.62 and a beta of 1.25. The stock has a 50 day simple moving average of $1,305.11 and a 200-day simple moving average of $1,118.75.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same period last year, the company earned $9.83 earnings per share. The firm’s revenue was up 34.2% compared to the same quarter last year. Equities research analysts predict that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend 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.