Parkworth Wealth Management Inc. Invests $54,000 in Broadcom Inc. (NASDAQ:AVGO)

Parkworth Wealth Management Inc. bought a new position in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 234 shares of the semiconductor manufacturer’s stock, valued at approximately $54,000.

Other institutional investors have also made changes to their positions in the company. Canton Hathaway LLC purchased a new position in shares of Broadcom in the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom in the fourth quarter worth approximately $26,000. Bellevue Asset Management LLC purchased a new position in shares of Broadcom in the fourth quarter worth approximately $33,000. Pin Oak Investment Advisors Inc. increased its position in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Finally, Synergy Investment Management LLC purchased a new position in Broadcom during the fourth quarter valued at approximately $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of Broadcom stock opened at $190.09 on Wednesday. The firm has a fifty day simple moving average of $220.42 and a 200-day simple moving average of $193.44. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The stock has a market capitalization of $893.79 billion, a price-to-earnings ratio of 155.05, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS. 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.24%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares of the company’s stock, valued at $161,627,425.40. The trade was a 5.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Morgan Stanley boosted their price objective on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. KeyCorp boosted their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of 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-five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.