Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 210,026 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,879 shares during the quarter. Broadcom makes up approximately 1.1% of Apollon Wealth Management LLC’s holdings, making the stock its 12th biggest holding. Apollon Wealth Management LLC’s holdings in Broadcom were worth $48,692,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AVGO. Byrne Asset Management LLC bought a new position in Broadcom in the fourth quarter worth about $51,000. Apollon Financial LLC lifted its holdings in Broadcom by 6.1% in the fourth quarter. Apollon Financial LLC now owns 19,727 shares of the semiconductor manufacturer’s stock worth $4,573,000 after acquiring an additional 1,138 shares during the last quarter. TFG Advisers LLC bought a new position in Broadcom in the fourth quarter worth about $293,000. Vest Financial LLC lifted its holdings in Broadcom by 38.8% in the fourth quarter. Vest Financial LLC now owns 50,059 shares of the semiconductor manufacturer’s stock worth $11,606,000 after acquiring an additional 13,996 shares during the last quarter. Finally, Seamount Financial Group Inc. lifted its holdings in Broadcom by 1.7% in the fourth quarter. Seamount Financial Group Inc. now owns 6,897 shares of the semiconductor manufacturer’s stock worth $1,599,000 after acquiring an additional 112 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

NASDAQ:AVGO opened at $235.04 on Wednesday. The firm has a market cap of $1.10 trillion, a PE ratio of 191.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company’s 50-day moving average price is $221.13 and its two-hundred day moving average price is $185.16.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the business earned $0.98 earnings per share. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 192.50%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AVGO shares. Truist Financial raised their target price on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. TD Cowen lifted their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Bank of America lifted their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Robert W. Baird lifted their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.04.

Broadcom 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.