Paces Ferry Wealth Advisors LLC Buys 54 Shares of Broadcom Inc. (NASDAQ:AVGO)

Paces Ferry Wealth Advisors LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 597 shares of the semiconductor manufacturer’s stock after purchasing an additional 54 shares during the quarter. Paces Ferry Wealth Advisors LLC’s holdings in Broadcom were worth $666,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Northern Trust Corp lifted its position in Broadcom by 2.1% during the 3rd quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock valued at $3,866,684,000 after acquiring an additional 93,615 shares during the period. Wellington Management Group LLP boosted its holdings in Broadcom by 43.9% in the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after acquiring an additional 1,228,755 shares in the last quarter. FMR LLC grew its stake in shares of Broadcom by 16.7% in the third quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after acquiring an additional 573,826 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Broadcom by 113,495.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after acquiring an additional 3,324,288 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Broadcom by 19.1% in the 3rd quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after purchasing an additional 514,120 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, Director Justine Page sold 110 shares of Broadcom stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now owns 3,125 shares in the company, valued at $4,134,375. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value 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 disclosure for this sale can be found here. In the last three months, insiders have sold 29,920 shares of company stock valued at $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO traded down $38.35 during mid-day trading 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 firm has a market cap of $602.57 billion, a price-to-earnings ratio of 48.19, a PEG ratio of 2.74 and a beta of 1.25. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The business has a fifty day moving average of $1,310.04 and a 200 day moving average of $1,143.82. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last issued its 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. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.83 EPS. Equities analysts predict that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Susquehanna increased their target price on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Finally, StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. 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, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

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.