Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 22.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,802 shares of the semiconductor manufacturer’s stock after buying an additional 326 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Broadcom were worth $2,011,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Broadcom in the fourth quarter worth approximately $25,000. PSI Advisors LLC boosted its stake in Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in Broadcom during the 4th quarter worth $29,000. CKW Financial Group purchased a new stake in shares of Broadcom during the fourth quarter worth $30,000. Finally, Bfsg LLC acquired a new stake in Broadcom in the 4th quarter valued at about $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Down 0.0 %

Broadcom stock traded down $0.14 during trading on Thursday, reaching $1,242.72. The stock had a trading volume of 652,258 shares, compared to its average volume of 2,881,714. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The business has a 50 day moving average price of $1,310.35 and a 200 day moving average price of $1,144.51. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The stock has a market cap of $575.90 billion, a PE ratio of 45.70, a P/E/G ratio of 2.65 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the previous year, the firm posted $9.83 earnings per share. The company’s revenue was up 34.2% compared to the same quarter last year. On average, analysts predict that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Mizuho raised their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. The Goldman Sachs Group reiterated a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Benchmark restated a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares in the company, valued at approximately $55,257,092.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the transaction, the insider now owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 over the last 90 days. 2.00% of the stock is owned by insiders.

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.