Strategic Family Wealth Counselors L.L.C. Has $2.54 Million Stake in Broadcom Inc. $AVGO

Strategic Family Wealth Counselors L.L.C. lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 236.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,623 shares of the semiconductor manufacturer’s stock after buying an additional 5,357 shares during the quarter. Strategic Family Wealth Counselors L.L.C.’s holdings in Broadcom were worth $2,535,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. JCIC Asset Management Inc. acquired a new position in shares of Broadcom during the 3rd quarter worth about $31,000. Miller Global Investments LLC acquired a new position in Broadcom during the fourth quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. acquired a new position in Broadcom during the fourth quarter valued at approximately $33,000. Manning & Napier Advisors LLC acquired a new position in Broadcom during the third quarter valued at approximately $34,000. Finally, Family CFO Inc acquired a new position in Broadcom during the fourth quarter valued at approximately $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on AVGO. Mizuho reaffirmed an “outperform” rating and set a $480.00 price objective on shares of Broadcom in a research note on Thursday, April 16th. UBS Group reaffirmed a “buy” rating and set a $490.00 price objective (up from $475.00) on shares of Broadcom in a research note on Monday. Weiss Ratings lowered Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Zacks Research upgraded Broadcom from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on Broadcom from $475.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $442.13.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider S. Ram Velaga sold 38,841 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the transaction, the insider owned 96,147 shares of the company’s stock, valued at $30,920,875.20. The trade was a 28.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kirsten M. Spears sold 36,292 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the transaction, the chief financial officer directly owned 327,760 shares in the company, valued at $105,407,616. This trade represents a 9.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 324,282 shares of company stock valued at $106,425,249. Corporate insiders own 1.90% of the company’s stock.

Broadcom Price Performance

NASDAQ AVGO opened at $420.71 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. Broadcom Inc. has a 12-month low of $221.60 and a 12-month high of $442.36. The company has a market capitalization of $1.99 trillion, a PE ratio of 82.17, a price-to-earnings-growth ratio of 0.88 and a beta of 1.43. The firm’s 50 day moving average is $367.36 and its 200-day moving average is $354.90.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. During the same period last year, the company earned $1.60 earnings per share. The firm’s revenue was up 29.5% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, March 23rd. Broadcom’s dividend payout ratio is currently 50.78%.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.