Broadcom Inc. (NASDAQ:AVGO) Holdings Increased by Cherrydale Wealth Management LLC

Cherrydale Wealth Management LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 15.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,164 shares of the semiconductor manufacturer’s stock after acquiring an additional 564 shares during the period. Broadcom accounts for approximately 0.4% of Cherrydale Wealth Management LLC’s holdings, making the stock its 26th biggest position. Cherrydale Wealth Management LLC’s holdings in Broadcom were worth $965,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. NCP Inc. increased its position in shares of Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after purchasing an additional 400 shares during the period. AE Wealth Management LLC boosted its stake in Broadcom by 20.5% during the second quarter. AE Wealth Management LLC now owns 4,681 shares of the semiconductor manufacturer’s stock valued at $7,515,000 after buying an additional 797 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Broadcom by 2,948.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 14,452 shares of the semiconductor manufacturer’s stock worth $23,204,000 after acquiring an additional 13,978 shares during the period. Kowal Investment Group LLC raised its position in Broadcom by 16.4% in the second quarter. Kowal Investment Group LLC now owns 989 shares of the semiconductor manufacturer’s stock worth $1,588,000 after acquiring an additional 139 shares in the last quarter. Finally, Circle Wealth Management LLC boosted its position in shares of Broadcom by 109.9% during the 2nd quarter. Circle Wealth Management LLC now owns 1,146 shares of the semiconductor manufacturer’s stock valued at $1,840,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % 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 ninety days. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AVGO. Mizuho increased their target price on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Cantor Fitzgerald lifted their target price on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Citigroup boosted their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Truist Financial increased their price target on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $225.83.

Broadcom Stock Up 3.5 %

Broadcom stock opened at $237.44 on Monday. The firm has a market cap of $1.11 trillion, a price-to-earnings ratio of 193.67, a P/E/G ratio of 2.35 and a beta of 1.03. The firm has a fifty day moving average price of $202.01 and a two-hundred day moving average price of $178.14. Broadcom Inc. has a fifty-two week low of $112.19 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share 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 the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 EPS. As a group, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current 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 paid a dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.99%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 192.50%.

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.