Wambolt & Associates LLC Buys 5,942 Shares of Broadcom Inc. (NASDAQ:AVGO)

Wambolt & Associates LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 125.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,666 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,942 shares during the quarter. Wambolt & Associates LLC’s holdings in Broadcom were worth $2,473,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Momentous Wealth Management Inc. bought a new position in Broadcom during the 4th quarter worth $278,000. Florida Financial Advisors LLC grew its holdings in shares of Broadcom by 33.6% during the 4th quarter. Florida Financial Advisors LLC now owns 6,717 shares of the semiconductor manufacturer’s stock worth $1,557,000 after purchasing an additional 1,688 shares in the last quarter. Baxter Bros Inc. increased its position in shares of Broadcom by 5.5% in the fourth quarter. Baxter Bros Inc. now owns 2,047 shares of the semiconductor manufacturer’s stock worth $475,000 after purchasing an additional 107 shares during the period. Bay Capital Advisors LLC acquired a new position in Broadcom in the fourth quarter valued at about $1,105,000. Finally, Potentia Wealth bought a new stake in Broadcom during the fourth quarter worth about $236,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVGO has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Morgan Stanley upped their target price on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. KeyCorp boosted their price target on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Citigroup raised their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Activity at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom 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 directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,000 shares of company stock valued at $21,494,560. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

NASDAQ AVGO opened at $191.25 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a fifty day moving average price of $213.70 and a 200-day moving average price of $195.64. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The firm has a market cap of $899.25 billion, a price-to-earnings ratio of 156.00, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

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.