WealthShield Partners LLC Acquires 181 Shares of Broadcom Inc. (NASDAQ:AVGO)

WealthShield Partners LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 7.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,512 shares of the semiconductor manufacturer’s stock after buying an additional 181 shares during the period. WealthShield Partners LLC’s holdings in Broadcom were worth $2,804,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Cantor Fitzgerald Investment Advisor L.P raised its position in shares of Broadcom by 94.4% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock worth $47,283,000 after purchasing an additional 36,458 shares during the period. Fairfield Bush & CO. raised its position in shares of Broadcom by 2.6% during the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock worth $3,114,000 after purchasing an additional 123 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Broadcom by 20.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock worth $320,887,000 after purchasing an additional 87,945 shares during the period. Loomis Sayles & Co. L P raised its position in shares of Broadcom by 1.1% during the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after purchasing an additional 420 shares during the period. Finally, Ergoteles LLC acquired a new position in shares of Broadcom during the first quarter worth approximately $1,095,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

Shares of AVGO stock traded up $14.09 on Wednesday, hitting $1,352.85. 1,553,435 shares of the stock were exchanged, compared to its average volume of 3,040,833. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $626.94 billion, a PE ratio of 50.69, a P/E/G ratio of 2.85 and a beta of 1.25. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The firm’s 50 day moving average is $1,282.61 and its two-hundred day moving average is $1,078.22.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.83 EPS. Sell-side analysts expect that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.55%. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the transaction, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the sale, the chief financial officer now directly owns 26,880 shares in the company, valued at approximately $28,039,603.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. Insiders have sold 22,310 shares of company stock valued at $29,405,117 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AVGO shares. Mizuho upped their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Truist Financial increased their price target on Broadcom from $995.00 to $1,015.00 and gave the company a “buy” rating in a research report on Friday, December 8th. UBS Group increased their price target on Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Cantor Fitzgerald increased their price target on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Finally, Susquehanna increased their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $1,230.18.

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Broadcom Profile

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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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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