Centric Wealth Management Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

Centric Wealth Management increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 579 shares of the semiconductor manufacturer’s stock after purchasing an additional 9 shares during the quarter. Centric Wealth Management’s holdings in Broadcom were worth $646,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisors LLC raised its position in Broadcom by 11.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock worth $1,041,000 after acquiring an additional 93 shares during the period. Todd Asset Management LLC raised its position in Broadcom by 26.3% in the fourth quarter. Todd Asset Management LLC now owns 79,765 shares of the semiconductor manufacturer’s stock worth $89,038,000 after acquiring an additional 16,608 shares during the period. Benjamin Edwards Inc. raised its position in Broadcom by 3.0% in the fourth quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock worth $3,506,000 after acquiring an additional 91 shares during the period. Stegent Equity Advisors Inc. bought a new stake in Broadcom in the fourth quarter worth about $271,000. Finally, Intrust Bank NA raised its position in Broadcom by 1.7% in the fourth quarter. Intrust Bank NA now owns 6,070 shares of the semiconductor manufacturer’s stock worth $6,776,000 after acquiring an additional 99 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Up 1.3 %

NASDAQ:AVGO traded up $16.82 during trading hours on Wednesday, reaching $1,319.93. The company’s stock had a trading volume of 857,881 shares, compared to its average volume of 2,848,984. 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 firm has a market capitalization of $611.68 billion, a price-to-earnings ratio of 49.54, a PEG ratio of 2.60 and a beta of 1.25. The firm has a 50-day simple moving average of $1,308.82 and a 200-day simple moving average of $1,157.75. Broadcom Inc. has a 1 year low of $615.86 and a 1 year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping 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 firm had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the previous year, the business earned $9.83 earnings per share. The company’s quarterly revenue was up 34.2% on a year-over-year basis. Research analysts expect that Broadcom Inc. will post 35.96 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 paid a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Analyst Ratings Changes

AVGO has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research report on Monday, April 8th. UBS Group lifted their price target on Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Evercore ISI assumed coverage on Broadcom in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price for the company. Finally, Oppenheimer reiterated an “outperform” rating and set a $1,500.00 price target (up 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the transaction, the insider now directly owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the sale, the insider now directly owns 46,974 shares in the company, valued at approximately $61,957,296.78. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 in the last three months. 2.00% of the stock is owned by insiders.

About Broadcom

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.