Xcel Wealth Management LLC Has $4.99 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Xcel Wealth Management LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,539 shares of the semiconductor manufacturer’s stock after selling 157 shares during the period. Broadcom comprises 1.4% of Xcel Wealth Management LLC’s investment portfolio, making the stock its 19th biggest holding. Xcel Wealth Management LLC’s holdings in Broadcom were worth $4,994,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Noble Wealth Management PBC bought a new stake in Broadcom during the 4th quarter worth approximately $179,000. US Bancorp DE grew its holdings in Broadcom by 7.2% during the fourth quarter. US Bancorp DE now owns 1,199,060 shares of the semiconductor manufacturer’s stock worth $277,992,000 after buying an additional 80,096 shares in the last quarter. Fisher Asset Management LLC raised its position in Broadcom by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 23,903,319 shares of the semiconductor manufacturer’s stock valued at $5,541,746,000 after buying an additional 480,538 shares during the last quarter. Noesis Capital Mangement Corp purchased a new position in Broadcom during the 4th quarter worth $342,000. Finally, Maripau Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth $578,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Performance

Broadcom stock opened at $199.29 on Friday. The firm’s 50 day simple moving average is $227.44 and its 200 day simple moving average is $192.11. 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 firm has a market capitalization of $934.16 billion, a PE ratio of 162.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. As a group, analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.18%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AVGO shares. Bank of America upped their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. TD Cowen raised their target price on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Piper Sandler boosted their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Susquehanna raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Finally, Mizuho boosted 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. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

About Broadcom

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.