Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Amplius Wealth Advisors LLC

Amplius Wealth Advisors LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,110 shares of the semiconductor manufacturer’s stock after purchasing an additional 134 shares during the quarter. Amplius Wealth Advisors LLC’s holdings in Broadcom were worth $2,576,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AVGO. State Street Corp grew its position in shares of Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after acquiring an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after acquiring an additional 89,975,941 shares in the last quarter. FMR LLC grew its position in shares of Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after acquiring an additional 82,998,328 shares in the last quarter. Jennison Associates LLC grew its position in shares of Broadcom by 842.4% in the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after acquiring an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Broadcom by 975.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after acquiring an additional 30,674,902 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares in the company, valued at $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last three months. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Up 0.2 %

AVGO opened at $240.91 on Thursday. Broadcom Inc. has a one year low of $117.43 and a one year 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 stock’s fifty day moving average is $204.46 and its 200-day moving average is $179.16. The company has a market capitalization of $1.13 trillion, a PE ratio of 196.50, a P/E/G ratio of 2.48 and a beta of 1.03.

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

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.98%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is presently 192.50%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 target price on shares of Broadcom in a research report on Wednesday, December 11th. Bank of America boosted their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Susquehanna boosted their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Barclays boosted their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three research 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.83.

Broadcom Company 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.