Elk River Wealth Management LLC Has $15.41 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Elk River Wealth Management LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.6% in the 4th quarter, Holdings Channel reports. The firm owned 13,807 shares of the semiconductor manufacturer’s stock after selling 78 shares during the quarter. Broadcom accounts for about 3.0% of Elk River Wealth Management LLC’s portfolio, making the stock its 8th largest holding. Elk River Wealth Management LLC’s holdings in Broadcom were worth $15,412,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. BKM Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter valued at $29,000. Bollard Group LLC bought a new stake in shares of Broadcom in the 2nd quarter valued at $26,000. Rise Advisors LLC increased its stake in shares of Broadcom by 76.5% in the 3rd quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 13 shares in the last quarter. Macroview Investment Management LLC bought a new stake in shares of Broadcom in the 3rd quarter valued at $29,000. Finally, Indiana Trust & Investment Management CO bought a new stake in shares of Broadcom in the 3rd quarter valued at $32,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, CFO Kirsten M. Spears sold 2,500 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the transaction, the chief financial officer now directly owns 26,880 shares in the company, valued at $28,039,603.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the transaction, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,810 shares of company stock worth $19,387,692. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Susquehanna boosted their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Truist Financial raised their target price on shares of Broadcom from $995.00 to $1,015.00 and gave the company a “buy” rating in a research note on Friday, December 8th. Citigroup reissued a “buy” rating and set a $1,100.00 price target on shares of Broadcom in a research note on Monday, December 11th. UBS Group raised their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, Oppenheimer restated an “outperform” rating and issued a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,230.18.

Broadcom Stock Down 1.9 %

AVGO stock traded down $25.29 during trading on Wednesday, reaching $1,306.20. 1,588,551 shares of the company traded hands, compared to its average volume of 3,098,260. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The business has a 50 day simple moving average of $1,263.22 and a 200 day simple moving average of $1,058.13. The company has a market capitalization of $605.32 billion, a price-to-earnings ratio of 48.51, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share 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 for the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter last year, the company earned $9.83 earnings per share. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, equities research analysts anticipate that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

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.