One Wealth Capital Management LLC Takes $2.83 Million Position in Broadcom Inc. (NASDAQ:AVGO)

One Wealth Capital Management LLC acquired a new position 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 acquired 12,219 shares of the semiconductor manufacturer’s stock, valued at approximately $2,833,000. Broadcom makes up approximately 1.4% of One Wealth Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Castleview Partners LLC lifted its holdings in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares during the period. Pin Oak Investment Advisors Inc. lifted its holdings in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares during the period. JDM Financial Group LLC grew its position in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the last quarter. Tsfg LLC raised its position in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 204 shares during the last quarter. Finally, Cedar Wealth Management LLC raised its position in shares of Broadcom by 900.0% during the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after acquiring an additional 216 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. UBS Group lifted their price objective on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Bank of America upped their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 target price on shares of Broadcom in a report on Wednesday, December 11th. Finally, Truist Financial raised their price objective on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $221.88.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the transaction, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 174,128 shares of company stock worth $39,099,840. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO stock traded down $7.27 during mid-day trading on Tuesday, hitting $229.14. The company had a trading volume of 17,657,874 shares, compared to its average volume of 26,777,094. The stock’s fifty day moving average price is $192.56 and its two-hundred day moving average price is $174.24. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 12 month low of $105.20 and a 12 month high of $251.88. The firm has a market cap of $1.07 trillion, a PE ratio of 199.08, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The business’s revenue was up 51.2% on a year-over-year basis. On average, analysts forecast that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.03%. Broadcom’s dividend payout ratio (DPR) is 191.87%.

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.