Kovack Advisors Inc. Purchases 96 Shares of Broadcom Inc. (NASDAQ:AVGO)

Kovack Advisors Inc. increased its position in Broadcom Inc. (NASDAQ:AVGO) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,910 shares of the semiconductor manufacturer’s stock after purchasing an additional 96 shares during the period. Broadcom makes up approximately 0.7% of Kovack Advisors Inc.’s holdings, making the stock its 23rd biggest position. Kovack Advisors Inc.’s holdings in Broadcom were worth $5,481,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Pathway Financial Advisors LLC raised its position in Broadcom by 11.1% in the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock worth $1,041,000 after buying an additional 93 shares during the last quarter. RMR Wealth Builders increased its position in shares of Broadcom by 6.5% during the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after purchasing an additional 388 shares during the last quarter. Alpha Omega Wealth Management LLC increased its position in shares of Broadcom by 66.6% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock valued at $4,756,000 after purchasing an additional 1,704 shares during the last quarter. CI Investments Inc. increased its position in shares of Broadcom by 89.4% during the 3rd quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock valued at $114,221,000 after purchasing an additional 64,912 shares during the last quarter. Finally, NatWest Group plc increased its position in shares of Broadcom by 8.2% during the 4th quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer’s stock valued at $9,263,000 after purchasing an additional 631 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 3.8 %

AVGO traded up $49.65 during trading on Friday, reaching $1,344.07. The company had a trading volume of 2,409,427 shares, compared to its average volume of 2,935,572. The stock has a market cap of $622.87 billion, a P/E ratio of 49.82, a PEG ratio of 2.56 and a beta of 1.25. The business has a 50 day simple moving average of $1,306.70 and a 200-day simple moving average of $1,134.07. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter last year, the firm posted $9.83 earnings per share. The business’s revenue was up 34.2% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced 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 was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.56%. Broadcom’s payout ratio is 77.84%.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the transaction, the insider now owns 41,974 shares in the company, valued at $55,257,092.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the sale, the insider now directly owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 over the last quarter. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on AVGO shares. UBS Group upped their price target on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a report on Thursday, March 21st. Cantor Fitzgerald increased their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Company 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.