DiNuzzo Private Wealth Inc. Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

DiNuzzo Private Wealth Inc. acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 55 shares of the semiconductor manufacturer’s stock, valued at approximately $61,000.

A number of other hedge funds also recently modified their holdings of AVGO. Stuart Chaussee & Associates Inc. acquired a new stake in Broadcom during the fourth quarter worth approximately $25,000. PSI Advisors LLC lifted its holdings in Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares during the last quarter. Macroview Investment Management LLC bought a new stake in Broadcom in the 3rd quarter valued at $29,000. BKM Wealth Management LLC acquired a new position in Broadcom in the 4th quarter valued at $29,000. Finally, CKW Financial Group bought a new position in Broadcom during the 4th quarter worth $30,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AVGO. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Cantor Fitzgerald raised their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Mizuho increased their price target on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, Evercore ISI started coverage on Broadcom in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price objective for the company. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Trading Down 2.3 %

AVGO stock traded down $29.37 during trading on Wednesday, hitting $1,270.90. The company had a trading volume of 1,847,525 shares, compared to its average volume of 2,891,843. The stock has a market cap of $588.96 billion, a PE ratio of 46.63, a PEG ratio of 2.72 and a beta of 1.25. The business has a 50-day moving average of $1,310.04 and a 200-day moving average of $1,143.82. 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 one year low of $601.29 and a one year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 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 analyst estimates of $11.79 billion. During the same period in the prior year, the firm posted $9.83 EPS. The company’s quarterly revenue was up 34.2% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insiders Place Their Bets

In other news, Director Justine Page sold 110 shares of Broadcom stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the transaction, the insider now directly owns 46,974 shares in the company, valued at $61,957,296.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

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.