Heartwood Wealth Advisors LLC Raises Position in Broadcom Inc. (NASDAQ:AVGO)

Heartwood Wealth Advisors LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 18.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,806 shares of the semiconductor manufacturer’s stock after buying an additional 276 shares during the quarter. Heartwood Wealth Advisors LLC’s holdings in Broadcom were worth $419,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in shares of Broadcom by 948.5% in the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after acquiring an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Broadcom by 976.6% during the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after acquiring an additional 89,975,941 shares during the last quarter. FMR LLC grew its stake in Broadcom by 1,121.3% during the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after acquiring an additional 82,998,328 shares in the last quarter. Jennison Associates LLC lifted its stake in Broadcom by 842.4% in the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after purchasing an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Broadcom by 975.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Down 2.0 %

NASDAQ:AVGO traded down $4.53 during trading hours on Friday, reaching $224.78. The company’s stock had a trading volume of 15,381,327 shares, compared to its average volume of 25,056,813. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market capitalization of $1.05 trillion, a P/E ratio of 195.29, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a 12 month low of $107.45 and a 12 month high of $251.88. The stock has a 50 day moving average price of $195.79 and a two-hundred day moving average price of $175.31.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The firm’s revenue was up 51.2% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.05%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 191.87%.

Insider Transactions at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 187,278 shares of company stock worth $44,046,240. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on AVGO shares. Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Barclays boosted their target price on shares of Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. UBS Group upped their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Jefferies Financial Group boosted their target price on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Mizuho lifted their price objective on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.54.

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.