Kiley Juergens Wealth Management LLC Has $13.18 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Kiley Juergens Wealth Management LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,853 shares of the semiconductor manufacturer’s stock after selling 1,000 shares during the quarter. Broadcom comprises approximately 3.3% of Kiley Juergens Wealth Management LLC’s investment portfolio, making the stock its 11th biggest position. Kiley Juergens Wealth Management LLC’s holdings in Broadcom were worth $13,181,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. NCP Inc. boosted its position in shares of Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after acquiring an additional 400 shares in the last quarter. Insigneo Advisory Services LLC boosted its holdings in shares of Broadcom by 860.6% in the 2nd quarter. Insigneo Advisory Services LLC now owns 19,740 shares of the semiconductor manufacturer’s stock valued at $31,693,000 after purchasing an additional 17,685 shares in the last quarter. Zurich Insurance Group Ltd FI increased its stake in shares of Broadcom by 39.9% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 134,589 shares of the semiconductor manufacturer’s stock valued at $216,087,000 after purchasing an additional 38,362 shares during the last quarter. Fred Alger Management LLC raised its holdings in shares of Broadcom by 14.7% during the 2nd quarter. Fred Alger Management LLC now owns 225,938 shares of the semiconductor manufacturer’s stock worth $362,750,000 after buying an additional 28,950 shares in the last quarter. Finally, Point72 Italy S.r.l. bought a new stake in shares of Broadcom during the 2nd quarter worth $14,129,000. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on AVGO shares. Mizuho lifted their target price on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. TD Cowen raised their target price on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Bank of America upped their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, UBS Group raised their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Three 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 an average price target of $225.83.

Broadcom Stock Performance

Shares of Broadcom stock opened at $240.91 on Thursday. The business has a 50-day moving average price of $204.46 and a two-hundred day moving average price of $179.16. Broadcom Inc. has a 1-year low of $117.43 and a 1-year high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a market cap of $1.13 trillion, a P/E ratio of 196.50, a PEG ratio of 2.48 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s revenue was up 51.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. As a group, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.98%. Broadcom’s dividend payout ratio is currently 192.50%.

Insiders Place Their Bets

In other Broadcom news, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by company insiders.

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.