Rialto Wealth Management LLC Acquires Shares of 110 Broadcom Inc. (NASDAQ:AVGO)

Rialto Wealth Management LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 110 shares of the semiconductor manufacturer’s stock, valued at approximately $26,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Hamilton Capital Partners LLC purchased a new position in Broadcom during the 4th quarter worth $10,049,000. Lifeworks Advisors LLC increased its stake in shares of Broadcom by 2.4% during the fourth quarter. Lifeworks Advisors LLC now owns 21,327 shares of the semiconductor manufacturer’s stock valued at $4,944,000 after buying an additional 499 shares during the period. AMF Tjanstepension AB raised its holdings in shares of Broadcom by 11.3% in the fourth quarter. AMF Tjanstepension AB now owns 1,129,101 shares of the semiconductor manufacturer’s stock valued at $261,847,000 after acquiring an additional 114,485 shares in the last quarter. River Global Investors LLP lifted its stake in Broadcom by 5.6% in the fourth quarter. River Global Investors LLP now owns 133,066 shares of the semiconductor manufacturer’s stock worth $30,843,000 after acquiring an additional 7,069 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new position in Broadcom during the 4th quarter worth about $4,451,000. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % 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 over the last quarter. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $194.96 on Monday. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The business’s 50 day moving average price is $222.28 and its 200 day moving average price is $193.12. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a market cap of $913.85 billion, a P/E ratio of 159.02, a P/E/G ratio of 2.29 and a beta of 1.01.

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

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AVGO shares. Mizuho lowered their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday. Benchmark reaffirmed a “buy” rating and set a $255.00 target price on shares of Broadcom in a research report on Friday. Morgan Stanley boosted their price target on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research report on Friday. Finally, Truist Financial boosted their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

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.