Evergreen Wealth Management LLC Has $3.53 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Evergreen Wealth Management LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,162 shares of the semiconductor manufacturer’s stock after buying an additional 63 shares during the quarter. Broadcom makes up about 2.6% of Evergreen Wealth Management LLC’s investment portfolio, making the stock its 13th largest holding. Evergreen Wealth Management LLC’s holdings in Broadcom were worth $3,530,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Means Investment CO. Inc. boosted its stake in shares of Broadcom by 40.7% during the 3rd quarter. Means Investment CO. Inc. now owns 377 shares of the semiconductor manufacturer’s stock worth $313,000 after acquiring an additional 109 shares in the last quarter. Concord Wealth Partners boosted its position in Broadcom by 3.7% during the third quarter. Concord Wealth Partners now owns 3,313 shares of the semiconductor manufacturer’s stock worth $2,752,000 after purchasing an additional 119 shares during the period. Everhart Financial Group Inc. grew its holdings in Broadcom by 8.5% during the third quarter. Everhart Financial Group Inc. now owns 1,310 shares of the semiconductor manufacturer’s stock valued at $1,088,000 after purchasing an additional 103 shares during the last quarter. JB Capital LLC raised its position in shares of Broadcom by 8.6% in the third quarter. JB Capital LLC now owns 11,495 shares of the semiconductor manufacturer’s stock valued at $9,547,000 after purchasing an additional 909 shares during the period. Finally, Lindbrook Capital LLC lifted its stake in shares of Broadcom by 0.8% in the third quarter. Lindbrook Capital LLC now owns 10,265 shares of the semiconductor manufacturer’s stock worth $8,526,000 after buying an additional 77 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on AVGO. UBS Group lifted their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Benchmark reissued a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Barclays raised their target price on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a report on Monday, April 8th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Price Performance

Shares of AVGO traded up $39.54 during trading hours on Friday, hitting $1,278.11. The stock had a trading volume of 2,489,755 shares, compared to its average volume of 2,435,058. The stock has a market capitalization of $592.30 billion, a price-to-earnings ratio of 47.37, a P/E/G ratio of 2.60 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The company’s fifty day moving average is $1,308.66 and its two-hundred day moving average is $1,151.47. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last issued 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. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm 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 company’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction 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 in the company, valued at $62,465.85. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

Broadcom 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.