Eagle Wealth Strategies LLC Invests $548,000 in Broadcom Inc. (NASDAQ:AVGO)

Eagle Wealth Strategies LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 491 shares of the semiconductor manufacturer’s stock, valued at approximately $548,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Broadcom in the fourth quarter worth $25,000. PSI Advisors LLC grew its stake in shares of Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 10 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in Broadcom during the fourth quarter worth $29,000. CKW Financial Group acquired a new stake in Broadcom during the fourth quarter worth $30,000. Finally, Bfsg LLC acquired a new stake in Broadcom during the fourth quarter worth $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AVGO. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Evercore ISI began coverage on shares of Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target on the stock. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Stock Performance

Shares of AVGO stock opened at $1,343.17 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock has a market cap of $622.45 billion, a PE ratio of 49.82, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The stock has a 50-day moving average of $1,306.70 and a 200-day moving average of $1,137.84. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the prior year, the business posted $9.83 EPS. Broadcom’s revenue was up 34.2% on a year-over-year basis. As a group, sell-side analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors 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 1.56%. Broadcom’s payout ratio is 77.84%.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now directly owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Justine Page sold 110 shares of the 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 value of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the sale, the insider now directly owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. In the last three months, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by corporate insiders.

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.