Peterson Wealth Services Has $8.32 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Peterson Wealth Services boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,454 shares of the semiconductor manufacturer’s stock after purchasing an additional 304 shares during the quarter. Broadcom makes up about 3.6% of Peterson Wealth Services’ portfolio, making the stock its 7th largest position. Peterson Wealth Services’ holdings in Broadcom were worth $8,321,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AVGO. Norges Bank acquired a new stake in shares of Broadcom in the 4th quarter valued at $2,222,676,000. Moneta Group Investment Advisors LLC increased its stake in shares of Broadcom by 122,794.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock valued at $2,050,420,000 after acquiring an additional 3,664,177 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Broadcom by 113,495.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after acquiring an additional 3,324,288 shares during the last quarter. Providence Capital Advisors LLC increased its stake in shares of Broadcom by 49,919.1% in the 1st quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock valued at $3,799,000 after acquiring an additional 2,432,559 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Broadcom by 43.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after acquiring an additional 1,228,755 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AVGO. Barclays boosted their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Wednesday. Cantor Fitzgerald increased their price target on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Susquehanna raised their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Stock Up 0.2 %

Shares of AVGO stock traded up $2.32 during mid-day trading on Thursday, hitting $1,284.95. The company’s stock had a trading volume of 571,119 shares, compared to its average volume of 2,921,179. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The business has a 50-day moving average price of $1,307.00 and a 200 day moving average price of $1,115.19. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The stock has a market cap of $595.47 billion, a price-to-earnings ratio of 47.54, a PEG ratio of 2.71 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the previous year, the company posted $9.83 earnings per share. Broadcom’s revenue for the quarter was up 34.2% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.63%. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the transaction, the insider now owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction on Wednesday, April 10th. The stock was 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 SEC, which is accessible through the SEC website. Also, Director Justine Page sold 110 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

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.