Moreno Evelyn V Buys Shares of 1,070 Broadcom Inc. (NASDAQ:AVGO)

Moreno Evelyn V bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,070 shares of the semiconductor manufacturer’s stock, valued at approximately $1,194,000.

Other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisors LLC raised its holdings in Broadcom by 11.1% during the fourth quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after acquiring an additional 93 shares during the period. Todd Asset Management LLC increased its holdings in shares of Broadcom by 26.3% in the fourth quarter. Todd Asset Management LLC now owns 79,765 shares of the semiconductor manufacturer’s stock worth $89,038,000 after purchasing an additional 16,608 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Broadcom by 3.0% in the fourth quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock worth $3,506,000 after purchasing an additional 91 shares during the last quarter. Barry Investment Advisors LLC purchased a new position in Broadcom in the fourth quarter worth about $228,000. Finally, Stegent Equity Advisors Inc. purchased a new position in Broadcom in the fourth quarter worth about $271,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of AVGO traded up $5.94 during mid-day trading on Thursday, hitting $1,398.18. 1,689,879 shares of the company were exchanged, compared to its average volume of 2,766,904. Broadcom Inc. has a 1-year low of $676.06 and a 1-year high of $1,445.40. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The company has a 50 day moving average of $1,318.57 and a 200-day moving average of $1,195.69. The stock has a market cap of $647.94 billion, a price-to-earnings ratio of 51.30, a price-to-earnings-growth ratio of 2.79 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate 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 prior year, the firm earned $9.83 EPS. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. Analysts expect that Broadcom Inc. will post 36.06 EPS 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 dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.50%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent analyst reports. JPMorgan Chase & Co. restated an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a research report on Thursday, March 21st. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Oppenheimer reiterated an “outperform” rating and issued a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Evercore ISI began coverage on Broadcom in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $1,296.91.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $1,367.52, for a total transaction of $3,418,800.00. Following the sale, the insider now owns 44,474 shares of the company’s stock, valued at approximately $60,819,084.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

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.