Alesco Advisors LLC Takes Position in Broadcom Inc. (NASDAQ:AVGO)

Alesco Advisors LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 219 shares of the semiconductor manufacturer’s stock, valued at approximately $244,000.

A number of other institutional investors have also recently made changes to their positions in the company. Pathway Financial Advisors LLC grew its position in Broadcom by 11.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock worth $1,041,000 after acquiring an additional 93 shares in the last quarter. RMR Wealth Builders grew its position in Broadcom by 6.5% in the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock worth $5,284,000 after acquiring an additional 388 shares in the last quarter. Alpha Omega Wealth Management LLC lifted its stake in Broadcom by 66.6% in the fourth quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock worth $4,756,000 after purchasing an additional 1,704 shares during the last quarter. CI Investments Inc. lifted its stake in Broadcom by 89.4% in the third quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock worth $114,221,000 after purchasing an additional 64,912 shares during the last quarter. Finally, NatWest Group plc lifted its stake in Broadcom by 8.2% in the fourth quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer’s stock worth $9,263,000 after purchasing an additional 631 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on AVGO shares. UBS Group raised their price objective on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, Barclays lifted their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Stock Up 3.8 %

NASDAQ:AVGO traded up $49.65 during trading hours on Friday, reaching $1,344.07. The company’s stock had a trading volume of 2,409,427 shares, compared to its average volume of 2,935,572. The company has a market capitalization of $622.87 billion, a P/E ratio of 49.82, a price-to-earnings-growth ratio of 2.56 and a beta of 1.25. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The stock has a 50 day moving average price of $1,306.70 and a two-hundred day moving average price of $1,134.07.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates 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 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 quarter in the previous year, the firm posted $9.83 earnings per share. Equities analysts predict that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 110 shares of Broadcom stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justine Page sold 110 shares of Broadcom stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by 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.