IFP Advisors Inc Has $22.53 Million Holdings in Broadcom Inc. $AVGO

Key Points

• IFP Advisors Inc increased its Broadcom stake by 12.1% in the fourth quarter, adding 7,022 shares and bringing its total holdings to 65,096 shares worth about $22.53 million.
• Broadcom reported strong quarterly results, posting $2.05 EPS on $19.31 billion in revenue, both ahead of analyst expectations, with revenue up 29.5% year over year.
• Analysts remain broadly bullish on AVGO, with a consensus rating of Moderate Buy and an average price target of $448.10, while the company also paid a quarterly dividend of $0.65 per share.

IFP Advisors Inc boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,096 shares of the semiconductor manufacturer's stock after purchasing an additional 7,022 shares during the quarter. IFP Advisors Inc's holdings in Broadcom were worth $22,530,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Miller Global Investments LLC bought a new stake in Broadcom in the 4th quarter valued at $31,000. Nvest Wealth Strategies Inc. bought a new stake in Broadcom in the 4th quarter valued at $33,000. Family CFO Inc bought a new stake in Broadcom in the 4th quarter valued at $35,000. PayPay Securities Corp increased its holdings in Broadcom by 88.9% in the 4th quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock valued at $41,000 after buying an additional 56 shares during the period. Finally, Camelot Portfolios LLC bought a new stake in Broadcom in the 4th quarter valued at $45,000. Institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $414.14 on Tuesday. Broadcom Inc. has a 12 month low of $226.18 and a 12 month high of $442.36. The company's 50-day moving average price is $374.86 and its two-hundred day moving average price is $356.49. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The firm has a market cap of $1.96 trillion, a P/E ratio of 80.89, a P/E/G ratio of 0.86 and a beta of 1.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping 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 firm had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. The company's revenue was up 29.5% on a year-over-year basis. As a group, research analysts forecast that Broadcom Inc. will post 9.91 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Activity

In other Broadcom news, insider S. Ram Velaga sold 8,000 shares of the stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the sale, the insider owned 57,932 shares of the company's stock, valued at $21,464,964.64. This represents a 12.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justine Page sold 2,018 shares of the company's stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the transaction, the director owned 18,164 shares in the company, valued at approximately $6,411,892. The trade was a 10.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Benchmark reissued a "buy" rating and issued a $485.00 price target on shares of Broadcom in a report on Thursday, March 5th. Erste Group Bank lowered shares of Broadcom from a "buy" rating to a "hold" rating in a report on Thursday, April 2nd. TD Cowen reaffirmed a "buy" rating and issued a $500.00 target price (up from $405.00) on shares of Broadcom in a report on Friday, May 15th. Wolfe Research raised shares of Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 target price on the stock in a report on Friday, January 30th. Finally, Citigroup reaffirmed a "buy" rating and issued a $500.00 target price (up from $475.00) on shares of Broadcom in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $448.10.

Broadcom 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.

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