Opal Wealth Advisors LLC Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Opal Wealth Advisors LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,364 shares of the semiconductor manufacturer’s stock after buying an additional 151 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Broadcom were worth $548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Elevation Wealth Partners LLC boosted its holdings in Broadcom by 5.3% in the fourth quarter. Elevation Wealth Partners LLC now owns 1,095 shares of the semiconductor manufacturer’s stock valued at $254,000 after acquiring an additional 55 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new position in shares of Broadcom in the 4th quarter worth about $313,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Broadcom in the 4th quarter valued at about $766,000. Elevate Capital Advisors LLC purchased a new stake in shares of Broadcom during the 4th quarter worth about $306,000. Finally, Savant Capital LLC increased its position in Broadcom by 17.5% during the 4th quarter. Savant Capital LLC now owns 64,126 shares of the semiconductor manufacturer’s stock worth $14,867,000 after purchasing an additional 9,559 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Up 0.6 %

NASDAQ:AVGO opened at $236.35 on Thursday. The company has a market cap of $1.11 trillion, a PE ratio of 192.78, a P/E/G ratio of 2.42 and a beta of 1.02. The business’s 50 day moving average is $222.47 and its two-hundred day moving average is $185.75. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.00%. Broadcom’s payout ratio is 192.50%.

Insider Activity at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares in the company, valued at $26,606,317.50. The trade was a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last quarter. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent research reports. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Evercore ISI upped their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Bank of America increased their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Susquehanna boosted their price objective on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Finally, Jefferies Financial Group increased their target price on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

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.