Secure Asset Management LLC Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Secure Asset Management LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 16.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,571 shares of the semiconductor manufacturer’s stock after purchasing an additional 778 shares during the quarter. Secure Asset Management LLC’s holdings in Broadcom were worth $1,292,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Red Door Wealth Management LLC grew its stake in shares of Broadcom by 84.6% in the fourth quarter. Red Door Wealth Management LLC now owns 6,422 shares of the semiconductor manufacturer’s stock valued at $1,489,000 after buying an additional 2,943 shares in the last quarter. IVC Wealth Advisors LLC boosted its holdings in Broadcom by 8.3% during the 4th quarter. IVC Wealth Advisors LLC now owns 2,596 shares of the semiconductor manufacturer’s stock valued at $602,000 after acquiring an additional 199 shares during the period. Capital Planning Advisors LLC boosted its holdings in Broadcom by 7.1% during the 4th quarter. Capital Planning Advisors LLC now owns 30,627 shares of the semiconductor manufacturer’s stock valued at $7,101,000 after acquiring an additional 2,037 shares during the period. Edge Financial Advisors LLC purchased a new stake in Broadcom during the fourth quarter worth about $251,000. Finally, Inspire Investing LLC lifted its position in shares of Broadcom by 23.1% during the fourth quarter. Inspire Investing LLC now owns 17,605 shares of the semiconductor manufacturer’s stock worth $4,081,000 after purchasing an additional 3,298 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by insiders.

Broadcom Trading Up 1.8 %

NASDAQ AVGO opened at $244.70 on Friday. Broadcom Inc. has a one year low of $117.43 and a one year high of $251.88. The firm has a market cap of $1.15 trillion, a PE ratio of 199.59, a P/E/G ratio of 2.52 and a beta of 1.03. The firm’s fifty day moving average is $208.80 and its two-hundred day moving average is $180.62. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. Analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.96%. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is currently 192.50%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Evercore ISI upped their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. increased their price objective on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Morgan Stanley boosted their target price on Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Barclays increased their price target on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $225.83.

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.