Axxcess Wealth Management LLC Has $42.18 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Axxcess Wealth Management LLC cut its position in Broadcom Inc. (NASDAQ:AVGO) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 181,944 shares of the semiconductor manufacturer’s stock after selling 2,896 shares during the period. Broadcom comprises about 1.0% of Axxcess Wealth Management LLC’s portfolio, making the stock its 18th largest position. Axxcess Wealth Management LLC’s holdings in Broadcom were worth $42,182,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Canton Hathaway LLC acquired a new stake in Broadcom in the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $26,000. Bellevue Asset Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $33,000. Pin Oak Investment Advisors Inc. raised its holdings in shares of Broadcom by 900.0% during 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 during the period. Finally, Synergy Investment Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of AVGO stock opened at $194.50 on Tuesday. The company has a market capitalization of $914.53 billion, a price-to-earnings ratio of 158.65, a PEG ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a 50-day simple moving average of $217.28 and a 200 day simple moving average of $194.43. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88.

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 issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AVGO. KeyCorp raised their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. TD Cowen raised their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Piper Sandler raised their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Finally, Susquehanna lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Buying and Selling

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the sale, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. The trade was a 69.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kirsten M. Spears sold 12,570 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the completion of the sale, the chief financial officer now directly owns 325,443 shares of the company’s stock, valued at $74,728,221.66. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,738 shares of company stock valued at $43,395,200. Company insiders own 2.00% of the company’s stock.

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.