Catalyst Financial Partners LLC Has $9.01 Million Stake in Broadcom Inc. $AVGO

Catalyst Financial Partners LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 5.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 26,044 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,352 shares during the period. Broadcom accounts for 1.0% of Catalyst Financial Partners LLC’s holdings, making the stock its 17th biggest position. Catalyst Financial Partners LLC’s holdings in Broadcom were worth $9,014,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Moneco Advisors LLC raised its position in shares of Broadcom by 4.8% during the fourth quarter. Moneco Advisors LLC now owns 17,849 shares of the semiconductor manufacturer’s stock worth $6,178,000 after purchasing an additional 813 shares during the period. Strategic Family Wealth Counselors L.L.C. raised its position in shares of Broadcom by 236.4% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,623 shares of the semiconductor manufacturer’s stock worth $2,535,000 after purchasing an additional 5,357 shares during the period. Biltmore Family Office LLC raised its position in shares of Broadcom by 6.9% during the fourth quarter. Biltmore Family Office LLC now owns 8,768 shares of the semiconductor manufacturer’s stock worth $3,035,000 after purchasing an additional 569 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Broadcom by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 540,860 shares of the semiconductor manufacturer’s stock worth $187,192,000 after purchasing an additional 3,279 shares during the period. Finally, Stonebridge Financial Group LLC MO acquired a new position in shares of Broadcom during the fourth quarter worth approximately $1,766,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other news, CFO Kirsten M. Spears sold 36,292 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the transaction, the chief financial officer owned 327,760 shares of the company’s stock, valued at $105,407,616. This represents a 9.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 50,488 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $16,236,940.80. Following the transaction, the insider directly owned 278,141 shares in the company, valued at $89,450,145.60. This represents a 15.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 324,282 shares of company stock worth $106,425,249 over the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Stock Down 1.1%

Shares of NASDAQ:AVGO opened at $420.71 on Tuesday. The company has a market capitalization of $1.99 trillion, a PE ratio of 82.17, a price-to-earnings-growth ratio of 0.88 and a beta of 1.43. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The business has a fifty day moving average price of $367.36 and a two-hundred day moving average price of $354.90. Broadcom Inc. has a 1 year low of $221.60 and a 1 year high of $442.36.

Broadcom (NASDAQ:AVGOGet Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. Analysts forecast that Broadcom Inc. will post 9.95 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom’s dividend payout ratio is currently 50.78%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AVGO. TD Cowen reaffirmed a “buy” rating and set a $500.00 target price (up from $405.00) on shares of Broadcom in a research report on Friday. Royal Bank Of Canada lowered their target price on Broadcom from $370.00 to $340.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Bank of America lowered their target price on Broadcom from $500.00 to $450.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $545.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday. Finally, Wolfe Research raised Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 target price on the stock in a research report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $442.13.

Get Our Latest Stock Report on Broadcom

About Broadcom

(Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

Further Reading

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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