Evexia Wealth LLC Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Evexia Wealth LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,024 shares of the semiconductor manufacturer’s stock after buying an additional 46 shares during the period. Broadcom comprises 3.1% of Evexia Wealth LLC’s investment portfolio, making the stock its 15th biggest position. Evexia Wealth LLC’s holdings in Broadcom were worth $7,376,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Stuart Chaussee & Associates Inc. acquired a new stake in Broadcom in the fourth quarter valued at approximately $25,000. PSI Advisors LLC grew its stake in Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 10 shares during the period. BKM Wealth Management LLC purchased a new stake in Broadcom in the 4th quarter worth $29,000. CKW Financial Group acquired a new position in Broadcom during the fourth quarter worth $30,000. Finally, Bfsg LLC purchased a new position in Broadcom during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly 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 can be accessed through this link. Also, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AVGO. Evercore ISI started coverage on shares of Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target for the company. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Oppenheimer restated an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Cantor Fitzgerald upped their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Finally, TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Trading Down 0.5 %

Broadcom stock traded down $7.20 during trading on Tuesday, hitting $1,303.11. The company had a trading volume of 1,240,937 shares, compared to its average volume of 2,871,969. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The company’s 50 day simple moving average is $1,308.82 and its 200-day simple moving average is $1,157.75. Broadcom Inc. has a 1-year low of $615.86 and a 1-year high of $1,438.17. The stock has a market cap of $603.89 billion, a price-to-earnings ratio of 48.30, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25.

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 the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the previous year, the business earned $9.83 EPS. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. As a group, analysts expect that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

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.