Parisi Gray Wealth Management Has $817,000 Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Parisi Gray Wealth Management grew its position in Broadcom Inc. (NASDAQ:AVGO) by 17.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 732 shares of the semiconductor manufacturer’s stock after purchasing an additional 110 shares during the period. Parisi Gray Wealth Management’s holdings in Broadcom were worth $817,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Rise Advisors LLC increased its position in Broadcom by 33.3% in the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after acquiring an additional 10 shares during the period. CX Institutional boosted its stake in shares of Broadcom by 0.8% in the 4th quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after purchasing an additional 10 shares during the last quarter. Cascade Investment Group Inc. boosted its stake in shares of Broadcom by 1.7% in the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock valued at $680,000 after purchasing an additional 10 shares during the last quarter. Greenwood Gearhart Inc. boosted its stake in shares of Broadcom by 2.0% in the 3rd quarter. Greenwood Gearhart Inc. now owns 549 shares of the semiconductor manufacturer’s stock valued at $456,000 after purchasing an additional 11 shares during the last quarter. Finally, WBH Advisory Inc. boosted its stake in Broadcom by 3.0% during the third quarter. WBH Advisory Inc. now owns 412 shares of the semiconductor manufacturer’s stock worth $342,000 after acquiring an additional 12 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the transaction, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the transaction, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold a total of 19,810 shares of company stock valued at $26,107,692 over the last three months. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AVGO shares. Mizuho increased their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Barclays started coverage on shares of Broadcom in a report on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 target price for the company. Summit Insights upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a report on Friday, December 8th. Finally, Citigroup reiterated a “buy” rating and issued a $1,100.00 target price on shares of Broadcom in a report on Monday, December 11th. Three equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $1,230.18.

Broadcom Price Performance

Shares of AVGO stock traded up $2.28 during trading hours on Thursday, hitting $1,321.01. 202,103 shares of the company’s stock were exchanged, compared to its average volume of 3,067,519. The company has a market capitalization of $612.18 billion, a PE ratio of 48.88, a PEG ratio of 2.81 and a beta of 1.26. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The business’s 50 day simple moving average is $1,267.55 and its 200-day simple moving average is $1,061.46. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s revenue was up 34.2% compared to the same quarter last year. During the same period last year, the firm posted $9.83 earnings per share. On average, equities research analysts anticipate that Broadcom Inc. will post 36.8 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Thursday, March 21st will be paid a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

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.