Perissos Private Wealth Management LLC Buys Shares of 936 Broadcom Inc. (NASDAQ:AVGO)

Perissos Private Wealth Management LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 936 shares of the semiconductor manufacturer’s stock, valued at approximately $217,000.

Several other large investors have also made changes to their positions in AVGO. TFB Advisors LLC raised its stake in Broadcom by 11.9% during the fourth quarter. TFB Advisors LLC now owns 8,076 shares of the semiconductor manufacturer’s stock worth $1,872,000 after acquiring an additional 862 shares in the last quarter. Certuity LLC increased its position in Broadcom by 31.7% during the 4th quarter. Certuity LLC now owns 18,833 shares of the semiconductor manufacturer’s stock worth $4,374,000 after purchasing an additional 4,535 shares in the last quarter. Indiana Trust & Investment Management Co increased its position in Broadcom by 171.4% during the 4th quarter. Indiana Trust & Investment Management Co now owns 3,175 shares of the semiconductor manufacturer’s stock worth $736,000 after purchasing an additional 2,005 shares in the last quarter. Community Financial Services Group LLC lifted its stake in Broadcom by 29.3% in the 4th quarter. Community Financial Services Group LLC now owns 71,900 shares of the semiconductor manufacturer’s stock valued at $16,669,000 after purchasing an additional 16,284 shares during the last quarter. Finally, Wealth Advisors Northwest LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $311,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the sale, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last three months. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Down 1.2 %

Shares of NASDAQ AVGO opened at $233.04 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The stock has a market capitalization of $1.09 trillion, a P/E ratio of 190.08, a P/E/G ratio of 2.42 and a beta of 1.02. The company has a 50-day moving average price of $225.09 and a 200-day moving average price of $186.45.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.01%. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Truist Financial boosted their price objective on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Barclays upped their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. UBS Group upped their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Jefferies Financial Group lifted their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom 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.