Alpha Cubed Investments LLC Grows Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Alpha Cubed Investments LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,075 shares of the semiconductor manufacturer’s stock after acquiring an additional 119 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Broadcom were worth $1,200,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. MONECO Advisors LLC boosted its stake in shares of Broadcom by 12.9% during the 4th quarter. MONECO Advisors LLC now owns 1,403 shares of the semiconductor manufacturer’s stock valued at $1,566,000 after buying an additional 160 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of Broadcom by 4.8% during the 4th quarter. Brighton Jones LLC now owns 2,100 shares of the semiconductor manufacturer’s stock valued at $2,345,000 after buying an additional 96 shares during the last quarter. Vanguard Capital Wealth Advisors boosted its stake in shares of Broadcom by 1.1% during the 4th quarter. Vanguard Capital Wealth Advisors now owns 2,798 shares of the semiconductor manufacturer’s stock valued at $3,123,000 after buying an additional 30 shares during the last quarter. Stegent Equity Advisors Inc. bought a new position in Broadcom during the fourth quarter worth $271,000. Finally, Certuity LLC lifted its stake in Broadcom by 50.1% during the fourth quarter. Certuity LLC now owns 1,295 shares of the semiconductor manufacturer’s stock worth $1,445,000 after purchasing an additional 432 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, Director Justine Page sold 110 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 in the last quarter. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Rosenblatt Securities restated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Susquehanna raised their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Benchmark restated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group restated a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Trading Down 0.5 %

Shares of AVGO stock opened at $1,294.00 on Wednesday. The stock has a 50-day simple moving average of $1,310.04 and a 200 day simple moving average of $1,143.82. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The stock has a market capitalization of $599.67 billion, a P/E ratio of 48.19, a P/E/G ratio of 2.72 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter last year, the business posted $9.83 earnings per share. The company’s quarterly revenue was up 34.2% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.62%. Broadcom’s dividend payout ratio (DPR) 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.