AllSquare Wealth Management LLC Raises Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)


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AllSquare Wealth Management LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 11.3% in the fourth quarter, HoldingsChannel reports. The firm owned 493 shares of the semiconductor manufacturer’s stock after purchasing an additional 50 shares during the quarter. AllSquare Wealth Management LLC’s holdings in Broadcom were worth $216,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. BlackRock Inc. boosted its holdings in shares of Broadcom by 1.0% in the 4th quarter. BlackRock Inc. now owns 26,016,338 shares of the semiconductor manufacturer’s stock worth $11,391,253,000 after purchasing an additional 244,861 shares during the period. Nuveen Asset Management LLC boosted its stake in Broadcom by 8.8% during the third quarter. Nuveen Asset Management LLC now owns 3,430,950 shares of the semiconductor manufacturer’s stock worth $1,249,964,000 after buying an additional 278,003 shares during the period. Morgan Stanley increased its position in Broadcom by 9.1% during the third quarter. Morgan Stanley now owns 2,912,980 shares of the semiconductor manufacturer’s stock valued at $1,061,256,000 after acquiring an additional 242,922 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Broadcom by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,884,467 shares of the semiconductor manufacturer’s stock valued at $686,550,000 after acquiring an additional 62,990 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Broadcom by 1.1% in the 4th quarter. FMR LLC now owns 1,847,184 shares of the semiconductor manufacturer’s stock worth $808,790,000 after acquiring an additional 19,772 shares during the last quarter. Institutional investors own 80.62% of the company’s stock.

Shares of AVGO stock traded down $14.08 during mid-day trading on Tuesday, reaching $462.28. The stock had a trading volume of 67,405 shares, compared to its average volume of 1,637,027. Broadcom Inc. has a 1-year low of $155.67 and a 1-year high of $495.14. The firm has a market cap of $188.02 billion, a price-to-earnings ratio of 74.24, a PEG ratio of 1.50 and a beta of 1.05. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 1.69. The business’s fifty day moving average is $461.79 and its 200-day moving average is $396.97.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, December 9th. The semiconductor manufacturer reported $6.35 EPS for the quarter, beating the Zacks’ consensus estimate of $6.25 by $0.10. Broadcom had a return on equity of 35.23% and a net margin of 12.39%. The firm had revenue of $6.47 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same quarter in the prior year, the firm earned $5.39 earnings per share. Broadcom’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, analysts forecast that Broadcom Inc. will post 23.14 earnings per share for the current year.

In other Broadcom news, Director Harry L. You sold 100 shares of Broadcom stock in a transaction dated Wednesday, December 23rd. The stock was sold at an average price of $427.57, for a total transaction of $42,757.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas H. Krause sold 2,550 shares of the business’s stock in a transaction dated Tuesday, December 15th. The shares were sold at an average price of $415.46, for a total value of $1,059,423.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 178,268 shares of company stock valued at $76,098,016. Company insiders own 3.00% of the company’s stock.

AVGO has been the subject of several recent analyst reports. Barclays boosted their target price on Broadcom from $450.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 26th. They noted that the move was a valuation call. KeyCorp reissued a “buy” rating on shares of Broadcom in a research report on Monday, December 14th. Wells Fargo & Company raised their target price on shares of Broadcom from $360.00 to $410.00 and gave the stock an “equal weight” rating in a research report on Friday, December 11th. Rosenblatt Securities reaffirmed a “buy” rating and set a $470.00 price target (up previously from $430.00) on shares of Broadcom in a research note on Friday, December 11th. Finally, Oppenheimer restated a “buy” rating and set a $475.00 price objective on shares of Broadcom in a research note on Friday, December 11th. Five analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $422.59.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies semiconductor infrastructure software solutions. It offers 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's infrastructure software solutions enable customers to plan, develop, automate, manage, and secure applications across mainframe, distributed, mobile, and cloud platforms.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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