Atria Wealth Solutions Inc. Has $19.67 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Atria Wealth Solutions Inc. lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,621 shares of the semiconductor manufacturer’s stock after buying an additional 991 shares during the period. Atria Wealth Solutions Inc.’s holdings in Broadcom were worth $19,670,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AVGO. PSI Advisors LLC lifted its holdings in shares of Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares in the last quarter. Macroview Investment Management LLC bought a new position in Broadcom during the 3rd quarter valued at $29,000. BKM Wealth Management LLC bought a new position in Broadcom during the 4th quarter valued at $29,000. CKW Financial Group bought a new position in Broadcom during the 4th quarter valued at $30,000. Finally, Bfsg LLC bought a new position in Broadcom during the 4th quarter valued at $35,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Shares of AVGO stock traded up $7.63 during trading on Wednesday, hitting $1,256.82. The company had a trading volume of 2,007,720 shares, compared to its average volume of 2,940,795. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The stock’s 50-day moving average is $1,304.15 and its two-hundred day moving average is $1,129.53. The stock has a market capitalization of $582.44 billion, a price-to-earnings ratio of 46.58, a price-to-earnings-growth ratio of 2.50 and a beta of 1.25. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the prior year, the business earned $9.83 earnings per share. As a group, analysts predict that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent analyst reports. Susquehanna raised their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Barclays raised their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Cantor Fitzgerald lifted their target price on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Evercore ISI assumed coverage on Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Activity

In other news, Director Kenneth Hao sold 9,160 shares of the 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 transaction of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction 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 directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by company insiders.

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.