Vanguard Capital Wealth Advisors Raises Stake in Broadcom Inc. (NASDAQ:AVGO)

Vanguard Capital Wealth Advisors raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,798 shares of the semiconductor manufacturer’s stock after acquiring an additional 30 shares during the period. Broadcom comprises approximately 2.5% of Vanguard Capital Wealth Advisors’ investment portfolio, making the stock its 9th largest holding. Vanguard Capital Wealth Advisors’ holdings in Broadcom were worth $3,123,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Stegent Equity Advisors Inc. bought a new stake in shares of Broadcom during the 4th quarter worth $271,000. Certuity LLC increased its holdings in Broadcom by 50.1% in the 4th quarter. Certuity LLC now owns 1,295 shares of the semiconductor manufacturer’s stock worth $1,445,000 after acquiring an additional 432 shares during the last quarter. Norden Group LLC increased its holdings in Broadcom by 5.2% in the 4th quarter. Norden Group LLC now owns 1,125 shares of the semiconductor manufacturer’s stock worth $1,256,000 after acquiring an additional 56 shares during the last quarter. Duff & Phelps Investment Management Co. increased its holdings in Broadcom by 7.4% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 4,901 shares of the semiconductor manufacturer’s stock worth $5,471,000 after acquiring an additional 339 shares during the last quarter. Finally, Crew Capital Management Ltd. purchased a new stake in Broadcom in the 4th quarter worth about $239,000. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the sale, the insider now directly owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock valued at $40,306,667 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Monday, April 8th. UBS Group lifted their target price on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Stock Down 2.9 %

AVGO stock traded down $38.35 during midday trading on Tuesday, hitting $1,300.27. The stock had a trading volume of 2,204,107 shares, compared to its average volume of 2,907,510. The firm has a market cap of $602.57 billion, a price-to-earnings ratio of 48.86, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The business has a 50-day moving average of $1,308.57 and a two-hundred day moving average of $1,140.88. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGO) last issued 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. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the prior year, the firm earned $9.83 earnings per share. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, equities research analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

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.