SOA Wealth Advisors LLC. Purchases 355 Shares of Broadcom Inc. (NASDAQ:AVGO)

SOA Wealth Advisors LLC. boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 50.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,056 shares of the semiconductor manufacturer’s stock after acquiring an additional 355 shares during the period. SOA Wealth Advisors LLC.’s holdings in Broadcom were worth $245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVGO. Central Pacific Bank Trust Division increased its position in shares of Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after buying an additional 3,707 shares during the period. Wolff Financial Management LLC bought a new position in shares of Broadcom in the fourth quarter worth approximately $244,000. Strait & Sound Wealth Management LLC grew its holdings in shares of Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after purchasing an additional 7,095 shares during the last quarter. Motive Wealth Advisors grew its holdings in shares of Broadcom by 1,076.5% in the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after purchasing an additional 4,209 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in Broadcom by 969.3% in the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock valued at $66,696,000 after acquiring an additional 350,485 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Citigroup boosted their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird boosted their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Mizuho boosted their price target on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, Evercore ISI boosted their price target on Broadcom from $201.00 to $250.00 and gave the stock 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 given a buy rating to the company’s stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last three months. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Shares of Broadcom stock opened at $191.58 on Thursday. The stock’s fifty day moving average is $224.53 and its two-hundred day moving average is $192.64. The company has a market capitalization of $898.00 billion, a PE ratio of 156.27, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88.

Broadcom (NASDAQ:AVGO) last posted its quarterly 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 return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The business’s revenue was up 51.2% compared to the same quarter last year. As a group, analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is 191.87%.

Broadcom Company 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.