Accurate Wealth Management LLC Buys 2,578 Shares of Broadcom Inc. $AVGO

Accurate Wealth Management LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,478 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,578 shares during the quarter. Broadcom makes up approximately 1.2% of Accurate Wealth Management LLC’s holdings, making the stock its 13th biggest position. Accurate Wealth Management LLC’s holdings in Broadcom were worth $9,473,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Baring Financial LLC lifted its holdings in shares of Broadcom by 2.2% in the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock worth $470,000 after buying an additional 29 shares in the last quarter. Arthur M. Cohen & Associates LLC boosted its holdings in shares of Broadcom by 0.6% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock valued at $1,577,000 after purchasing an additional 30 shares during the last quarter. Jackson Hole Capital Partners LLC grew its position in shares of Broadcom by 1.4% during the third quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock valued at $716,000 after purchasing an additional 30 shares in the last quarter. Private Wealth Partners LLC grew its position in shares of Broadcom by 0.7% during the third quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer’s stock valued at $1,410,000 after purchasing an additional 30 shares in the last quarter. Finally, Planning Alternatives Ltd. ADV increased its holdings in shares of Broadcom by 1.4% in the third quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock worth $715,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $11,671,507.20. Following the completion of the sale, the chief financial officer directly owned 327,760 shares of the company’s stock, valued at $105,407,616. The trade was a 9.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 39,116 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the transaction, the insider directly owned 74,626 shares in the company, valued at approximately $24,000,467.86. This trade represents a 34.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 403,049 shares of company stock worth $133,459,315 in the last three months. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of research analyst reports. KeyCorp reiterated an “overweight” rating and issued a $500.00 target price (up from $460.00) on shares of Broadcom in a research report on Friday, December 12th. Truist Financial lifted their price objective on Broadcom from $510.00 to $545.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Piper Sandler reaffirmed an “overweight” rating and set a $430.00 price objective (up from $375.00) on shares of Broadcom in a report on Friday, December 12th. Robert W. Baird set a $420.00 price target on shares of Broadcom in a research note on Friday, December 12th. Finally, Wells Fargo & Company raised shares of Broadcom from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $410.00 to $430.00 in a research note on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $435.30.

Broadcom Trading Down 2.4%

AVGO stock opened at $293.41 on Tuesday. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The stock has a market capitalization of $1.39 trillion, a price-to-earnings ratio of 57.31, a price-to-earnings-growth ratio of 0.64 and a beta of 1.22. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The firm’s fifty day simple moving average is $325.83 and its two-hundred day simple moving average is $344.28.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.02. The firm had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business’s revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the business earned $1.60 EPS. As a group, analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, March 23rd. Broadcom’s dividend payout ratio is presently 50.78%.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.