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

Key Points

• Strategic Family Wealth Counselors boosted its Broadcom stake by 236.4% in the fourth quarter, ending with 7,623 shares valued at about $2.54 million.
• Broadcom shares were down 1.1% in Tuesday trading, even as the stock has climbed to near its 52-week high and now carries a market cap of roughly $1.99 trillion.
• The company reported strong quarterly results, with EPS of $2.05 topping estimates and revenue of $19.31 billion beating expectations; Broadcom also paid a quarterly dividend of $0.65 per share.

Strategic Family Wealth Counselors L.L.C. increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 236.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,623 shares of the semiconductor manufacturer's stock after purchasing an additional 5,357 shares during the period. Strategic Family Wealth Counselors L.L.C.'s holdings in Broadcom were worth $2,535,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Brighton Jones LLC grew its stake in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after acquiring an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after acquiring an additional 756 shares during the last quarter. United Bank grew its stake in shares of Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock worth $392,000 after acquiring an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock worth $3,499,000 after acquiring an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC raised its position in shares of Broadcom by 10.5% during the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock valued at $1,098,000 after buying an additional 378 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Trading Down 1.1%

AVGO stock opened at $420.71 on Tuesday. The business has a fifty day moving average price of $367.36 and a 200 day moving average price of $354.90. Broadcom Inc. has a fifty-two week low of $221.60 and a fifty-two week high of $442.36. The stock has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 82.17, a P/E/G ratio of 0.88 and a beta of 1.43. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm had revenue of $19.31 billion during the quarter, compared to analysts' expectations of $19.10 billion. During the same period last year, the firm posted $1.60 EPS. The business's revenue was up 29.5% on a year-over-year basis. Analysts expect that Broadcom Inc. will post 9.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 36,292 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $11,671,507.20. Following the completion of the sale, the chief financial officer owned 327,760 shares of the company's stock, valued at $105,407,616. This trade represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider S. Ram Velaga sold 38,841 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the completion of the sale, the insider directly owned 96,147 shares of the company's stock, valued at approximately $30,920,875.20. This represents a 28.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 324,282 shares of company stock worth $106,425,249 in the last 90 days. Corporate insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research analyst reports. Zacks Research raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 2nd. Citigroup reissued a "buy" rating and set a $500.00 price objective (up from $475.00) on shares of Broadcom in a report on Tuesday, May 12th. Seaport Research Partners reissued a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. DA Davidson raised Broadcom to a "hold" rating in a report on Friday, February 13th. Finally, Wolfe Research raised Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 price objective on the stock in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Broadcom presently has an average rating of "Moderate Buy" and a consensus price target of $442.13.

About Broadcom

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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