Brady Martz Wealth Solutions LLC Buys Shares of 25,095 Broadcom Inc. (NASDAQ:AVGO)

Brady Martz Wealth Solutions LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 25,095 shares of the semiconductor manufacturer’s stock, valued at approximately $5,639,000. Broadcom makes up approximately 1.4% of Brady Martz Wealth Solutions LLC’s holdings, making the stock its 15th largest holding.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Broadcom by 948.5% in the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the last quarter. FMR LLC grew its position in shares of Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after purchasing an additional 82,998,328 shares during the last quarter. Jennison Associates LLC grew its position in shares of Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Broadcom by 975.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $237.44 on Tuesday. Broadcom Inc. has a 12-month low of $112.19 and a 12-month high of $251.88. The company has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm’s fifty day moving average price is $202.01 and its 200 day moving average price is $178.14.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 0.99%. Broadcom’s payout ratio is 192.50%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Rosenblatt Securities restated a “buy” rating and set a $240.00 target price on shares of Broadcom in a research report on Wednesday, December 11th. Jefferies Financial Group raised their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Evercore ISI raised their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $225.83.

About Broadcom

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.