Alpha Omega Wealth Management LLC Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Alpha Omega Wealth Management LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 66.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,261 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,704 shares during the period. Broadcom makes up approximately 0.8% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 29th biggest holding. Alpha Omega Wealth Management LLC’s holdings in Broadcom were worth $4,756,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BKM Wealth Management LLC purchased a new position in Broadcom in the 4th quarter worth $29,000. CKW Financial Group purchased a new position in Broadcom in the 4th quarter worth approximately $30,000. Macroview Investment Management LLC purchased a new stake in shares of Broadcom during the third quarter valued at approximately $29,000. PrairieView Partners LLC grew its holdings in shares of Broadcom by 178.6% in the fourth quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 25 shares during the last quarter. Finally, Rise Advisors LLC raised its holdings in Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after buying an additional 10 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research report on Monday, April 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Evercore ISI started coverage on shares of Broadcom in a research note on Tuesday. They issued an “outperform” rating and a $1,620.00 price target for the company. Finally, Oppenheimer reissued an “outperform” rating and issued a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,281.09.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction dated 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 transaction, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction dated Wednesday, April 10th. The shares were 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 owns 41,974 shares in the company, valued at approximately $55,257,092.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 in the last three months. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded down $31.15 during trading on Wednesday, reaching $1,297.91. 1,055,649 shares of the company traded hands, compared to its average volume of 2,934,760. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. 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 $1,306.49 and a 200-day simple moving average of $1,114.01. The stock has a market capitalization of $601.48 billion, a PE ratio of 48.70, a P/E/G ratio of 2.67 and a beta of 1.25.

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. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the company earned $9.83 earnings per share. Equities research analysts anticipate that Broadcom Inc. will post 35.95 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.62%. Broadcom’s payout ratio is currently 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.