Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Parisi Gray Wealth Management

Parisi Gray Wealth Management boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 17.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 732 shares of the semiconductor manufacturer’s stock after acquiring an additional 110 shares during the quarter. Parisi Gray Wealth Management’s holdings in Broadcom were worth $817,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in AVGO. BKM Wealth Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $29,000. Bollard Group LLC purchased a new stake in Broadcom during the second quarter worth $26,000. Rise Advisors LLC boosted its position in Broadcom by 76.5% during the third quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 13 shares in the last quarter. Macroview Investment Management LLC purchased a new stake in Broadcom during the third quarter worth $29,000. Finally, Indiana Trust & Investment Management CO purchased a new stake in Broadcom during the third quarter worth $32,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Summit Insights upgraded Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. Barclays started coverage on Broadcom in a report on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 price target for the company. Mizuho boosted their price target on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. UBS Group boosted their price target on Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Three investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,230.18.

Broadcom Stock Performance

NASDAQ:AVGO traded up $2.28 during trading hours on Thursday, reaching $1,321.01. 202,103 shares of the stock were exchanged, compared to its average volume of 3,067,519. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The firm has a 50 day simple moving average of $1,267.55 and a 200-day simple moving average of $1,061.46. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The stock has a market capitalization of $612.18 billion, a P/E ratio of 48.88, a P/E/G ratio of 2.81 and a beta of 1.26.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the firm earned $9.83 EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 21st will be given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,810 shares of company stock worth $26,107,692. 2.00% of the stock is currently owned by company 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.