Fiducient Advisors LLC Purchases New Shares in Broadcom Inc. (NASDAQ:AVGO)

Fiducient Advisors LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 345 shares of the semiconductor manufacturer’s stock, valued at approximately $385,000.

A number of other institutional investors have also recently modified their holdings of the stock. Arnhold LLC lifted its position in shares of Broadcom by 22.8% during the 4th quarter. Arnhold LLC now owns 23,853 shares of the semiconductor manufacturer’s stock worth $26,626,000 after buying an additional 4,424 shares during the last quarter. Paces Ferry Wealth Advisors LLC increased its holdings in Broadcom by 9.9% in the 4th quarter. Paces Ferry Wealth Advisors LLC now owns 597 shares of the semiconductor manufacturer’s stock worth $666,000 after purchasing an additional 54 shares in the last quarter. Mach 1 Financial Group LLC increased its stake in shares of Broadcom by 44.8% in the fourth quarter. Mach 1 Financial Group LLC now owns 598 shares of the semiconductor manufacturer’s stock valued at $668,000 after buying an additional 185 shares during the period. Hartford Funds Management Co LLC increased its stake in shares of Broadcom by 24.6% in the fourth quarter. Hartford Funds Management Co LLC now owns 1,197 shares of the semiconductor manufacturer’s stock valued at $1,336,000 after buying an additional 236 shares during the period. Finally, Savant Capital LLC increased its stake in shares of Broadcom by 5.1% in the fourth quarter. Savant Capital LLC now owns 4,217 shares of the semiconductor manufacturer’s stock valued at $4,707,000 after buying an additional 205 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value 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 approximately $22,276,800. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value 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 approximately $22,276,800. 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 business’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 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. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 over the last 90 days. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO traded down $38.35 during trading hours on Tuesday, reaching $1,300.27. The stock had a trading volume of 2,208,554 shares, compared to its average volume of 2,907,510. 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 simple moving average of $1,310.04 and a 200 day simple moving average of $1,143.82. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The stock has a market cap of $602.57 billion, a P/E ratio of 48.19, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the business earned $9.83 earnings per share. On average, research analysts forecast that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Susquehanna raised their target price on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. Finally, Barclays increased their price target on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.