CWA Asset Management Group LLC Purchases 3,484 Shares of Broadcom Inc. (NASDAQ:AVGO)

CWA Asset Management Group LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,210 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,484 shares during the quarter. CWA Asset Management Group LLC’s holdings in Broadcom were worth $8,627,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Broadcom in the 2nd quarter valued at about $128,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Broadcom in the 2nd quarter worth about $136,000. WPWealth LLP acquired a new position in Broadcom during the 2nd quarter valued at about $204,000. Harrington Investments INC bought a new stake in Broadcom during the second quarter worth $207,000. Finally, AIMZ Investment Advisors LLC purchased a new stake in Broadcom in the 2nd quarter valued at $207,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO traded up $5.73 during midday trading on Monday, reaching $238.28. The stock had a trading volume of 10,735,405 shares, compared to its average volume of 22,000,133. The company’s 50-day moving average is $191.27 and its 200 day moving average is $173.87. The company has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 207.02, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a 12-month low of $105.20 and a 12-month high of $251.88. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share 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 net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. On average, equities analysts predict that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.99%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 191.87%.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. The trade was a 4.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,128 shares of company stock valued at $29,820,640 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVGO. Mizuho upped their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Citigroup increased their price target on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Jefferies Financial Group boosted their price objective on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Barclays lifted their target price on Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Finally, UBS Group raised their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $221.88.

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.