Broadcom Inc. (NASDAQ:AVGO) Position Raised by Blodgett Wealth Advisors LLC

Blodgett Wealth Advisors LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 23.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,428 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,020 shares during the period. Broadcom accounts for 1.0% of Blodgett Wealth Advisors LLC’s portfolio, making the stock its 20th biggest holding. Blodgett Wealth Advisors LLC’s holdings in Broadcom were worth $1,258,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. AMF Tjanstepension AB grew its stake in shares of Broadcom by 856.9% in the third quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock worth $175,101,000 after purchasing an additional 908,585 shares in the last quarter. Alpha Financial Partners LLC bought a new stake in shares of Broadcom during the third quarter valued at about $404,000. City Holding Co. lifted its holdings in Broadcom by 1,464.7% in the third quarter. City Holding Co. now owns 1,330 shares of the semiconductor manufacturer’s stock worth $229,000 after purchasing an additional 1,245 shares during the period. Brookstone Capital Management grew its position in Broadcom by 9.5% in the 3rd quarter. Brookstone Capital Management now owns 38,803 shares of the semiconductor manufacturer’s stock valued at $6,693,000 after buying an additional 3,380 shares in the last quarter. Finally, First PREMIER Bank increased its stake in Broadcom by 1,952.6% during the 3rd quarter. First PREMIER Bank now owns 390 shares of the semiconductor manufacturer’s stock valued at $67,000 after buying an additional 371 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $231.36 on Friday. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market capitalization of $1.08 trillion, a PE ratio of 188.71, a PEG ratio of 2.31 and a beta of 1.02. The company’s 50 day moving average price is $217.07 and its 200 day moving average price is $183.40.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 earnings per share. Research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.02%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is currently 192.50%.

Analyst Ratings Changes

AVGO has been the subject of a number of research analyst reports. TD Cowen upped their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Barclays increased their price target on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Benchmark reiterated a “buy” rating and set a $255.00 price target (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 target price on shares of Broadcom in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Insider Activity at Broadcom

In related news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by corporate insiders.

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.