IAG Wealth Partners LLC Buys 15 Shares of Broadcom Inc. (NASDAQ:AVGO)

IAG Wealth Partners LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 44.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49 shares of the semiconductor manufacturer’s stock after purchasing an additional 15 shares during the quarter. IAG Wealth Partners LLC’s holdings in Broadcom were worth $55,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. CX Institutional increased its position in Broadcom by 2.7% in the third quarter. CX Institutional now owns 1,279 shares of the semiconductor manufacturer’s stock worth $1,062,000 after buying an additional 34 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Broadcom by 25.2% in the third quarter. Ballentine Partners LLC now owns 5,494 shares of the semiconductor manufacturer’s stock worth $4,563,000 after acquiring an additional 1,107 shares during the period. KRS Capital Management LLC boosted its holdings in shares of Broadcom by 28.1% in the third quarter. KRS Capital Management LLC now owns 1,091 shares of the semiconductor manufacturer’s stock worth $906,000 after acquiring an additional 239 shares during the period. Oak Harbor Wealth Partners LLC boosted its holdings in shares of Broadcom by 6.2% in the third quarter. Oak Harbor Wealth Partners LLC now owns 1,820 shares of the semiconductor manufacturer’s stock worth $1,512,000 after acquiring an additional 107 shares during the period. Finally, Walkner Condon Financial Advisors LLC boosted its holdings in shares of Broadcom by 7.9% in the third quarter. Walkner Condon Financial Advisors LLC now owns 343 shares of the semiconductor manufacturer’s stock worth $285,000 after acquiring an additional 25 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Broadcom news, Director Justine Page sold 110 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Up 3.8 %

Shares of AVGO traded up $49.65 during trading hours on Friday, hitting $1,344.07. The company had a trading volume of 2,409,983 shares, compared to its average volume of 2,322,994. The firm has a market cap of $622.87 billion, a P/E ratio of 49.82, a P/E/G ratio of 2.63 and a beta of 1.25. The stock’s 50 day moving average price is $1,306.70 and its 200 day moving average price is $1,134.07. 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 Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17.

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

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.56%. Broadcom’s dividend payout ratio is presently 77.84%.

Analyst Ratings Changes

A number of equities analysts have recently commented on AVGO shares. Mizuho raised their price target on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Rosenblatt Securities reissued a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, Evercore ISI assumed coverage on Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price objective for the company. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

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.