Freedom Wealth Alliance LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 81 shares of the semiconductor manufacturer’s stock, valued at approximately $45,000.
A number of other large investors have also added to or reduced their stakes in the business. Bluefin Capital Management LLC raised its stake in Broadcom by 68.0% in the 4th quarter. Bluefin Capital Management LLC now owns 1,500 shares of the semiconductor manufacturer’s stock valued at $839,000 after acquiring an additional 607 shares during the period. Axxcess Wealth Management LLC raised its stake in Broadcom by 25.4% in the 4th quarter. Axxcess Wealth Management LLC now owns 16,701 shares of the semiconductor manufacturer’s stock valued at $9,338,000 after acquiring an additional 3,378 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in Broadcom by 33.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,679 shares of the semiconductor manufacturer’s stock valued at $140,721,000 after acquiring an additional 62,800 shares during the period. Jefferies Financial Group Inc. bought a new stake in Broadcom in the 4th quarter valued at $209,000. Finally, Oxford Financial Group Ltd. bought a new stake in Broadcom in the 4th quarter valued at $267,000. Institutional investors own 81.28% of the company’s stock.
Insider Buying and Selling at Broadcom
In other Broadcom news, insider Charlie B. Kawwas sold 1,645 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $801.33, for a total value of $1,318,187.85. Following the completion of the transaction, the insider now directly owns 75,290 shares in the company, valued at $60,332,135.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Kirsten M. Spears sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, March 28th. The stock was sold at an average price of $619.72, for a total transaction of $4,338,040.00. Following the completion of the transaction, the chief financial officer now directly owns 41,085 shares in the company, valued at $25,461,196.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 1,645 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $801.33, for a total value of $1,318,187.85. Following the transaction, the insider now owns 75,290 shares of the company’s stock, valued at $60,332,135.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,385 shares of company stock worth $29,697,208. 2.20% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Broadcom Price Performance
Shares of AVGO stock opened at $851.12 on Wednesday. The company has a quick ratio of 2.13, a current ratio of 2.38 and a debt-to-equity ratio of 1.74. Broadcom Inc. has a twelve month low of $415.07 and a twelve month high of $921.78. The company has a market cap of $351.24 billion, a P/E ratio of 26.66, a P/E/G ratio of 1.56 and a beta of 1.08. The business has a fifty day simple moving average of $682.18 and a 200 day simple moving average of $620.43.
Broadcom (NASDAQ:AVGO – Get Rating) last posted its earnings results on Thursday, June 1st. The semiconductor manufacturer reported $10.32 EPS for the quarter, beating the consensus estimate of $10.12 by $0.20. The firm had revenue of $8.73 billion during the quarter, compared to the consensus estimate of $8.70 billion. Broadcom had a return on equity of 74.58% and a net margin of 39.06%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company earned $8.39 earnings per share. On average, sell-side analysts forecast that Broadcom Inc. will post 38.19 EPS for the current fiscal year.
Broadcom Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 22nd will be given a $4.60 dividend. The ex-dividend date of this dividend is Wednesday, June 21st. This represents a $18.40 annualized dividend and a yield of 2.16%. Broadcom’s dividend payout ratio is presently 57.63%.
Broadcom Profile
Broadcom Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.
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