Apollon Wealth Management LLC Acquires 3,880 Shares of Broadcom Inc. (NASDAQ:AVGO)

Apollon Wealth Management LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 28.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,543 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,880 shares during the quarter. Broadcom makes up approximately 0.7% of Apollon Wealth Management LLC’s investment portfolio, making the stock its 29th biggest position. Apollon Wealth Management LLC’s holdings in Broadcom were worth $19,583,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of AVGO. International Assets Investment Management LLC raised its holdings in shares of Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after acquiring an additional 3,324,288 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Broadcom by 43.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after acquiring an additional 1,228,755 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Broadcom in the third quarter worth about $560,563,000. FMR LLC increased its stake in Broadcom by 16.7% during the third quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after acquiring an additional 573,826 shares during the last quarter. Finally, Invesco Ltd. raised its position in Broadcom by 19.1% during the third quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock valued at $2,663,339,000 after purchasing an additional 514,120 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 0.5 %

AVGO traded down $7.20 during trading on Tuesday, hitting $1,303.11. The stock had a trading volume of 1,240,937 shares, compared to its average volume of 2,871,969. The stock has a 50 day simple moving average of $1,308.68 and a two-hundred day simple moving average of $1,154.58. The company has a market capitalization of $603.89 billion, a PE ratio of 48.54, a PEG ratio of 2.60 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a twelve month low of $615.86 and a twelve month high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) 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 company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period in the prior year, the company posted $9.83 EPS. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.61%. Broadcom’s payout ratio is 77.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald boosted their target price on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Susquehanna lifted their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. TD Cowen raised shares of 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. Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Finally, UBS Group increased their price target on Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. 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 presently has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Insiders Place Their Bets

In other news, Director Justine Page sold 110 shares of the 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 transaction, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Justine Page sold 110 shares of the stock in a transaction on Wednesday, April 10th. The shares were 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 in the company, valued at $4,134,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the transaction, the insider now owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock valued at $40,306,667. Insiders own 2.00% of the company’s stock.

Broadcom Company Profile

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.