Sequoia Financial Advisors LLC Acquires 34,724 Shares of Broadcom Inc. (NASDAQ:AVGO)

Sequoia Financial Advisors LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 549,969 shares of the semiconductor manufacturer’s stock after acquiring an additional 34,724 shares during the period. Broadcom makes up about 1.2% of Sequoia Financial Advisors LLC’s investment portfolio, making the stock its 13th biggest position. Sequoia Financial Advisors LLC’s holdings in Broadcom were worth $127,505,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Pin Oak Investment Advisors Inc. grew its position in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the period. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth about $26,000. JDM Financial Group LLC increased its position in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Finally, Bellevue Asset Management LLC bought a new position in Broadcom during the 4th quarter valued at about $33,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Up 3.1 %

NASDAQ AVGO opened at $190.09 on Wednesday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a 50-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. The company has a market capitalization of $893.79 billion, a PE ratio of 155.05, a P/E/G ratio of 2.29 and a beta of 1.01.

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

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.24%. Broadcom’s dividend payout ratio is 113.46%.

Insider Activity

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

Wall Street Analyst Weigh In

AVGO has been the topic of several research analyst reports. Morgan Stanley upped their price objective on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. KeyCorp increased their price target on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Susquehanna lifted 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. Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Finally, Bank of America lifted 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. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $231.48.

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.