Foundations Investment Advisors LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 43.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,289 shares of the semiconductor manufacturer's stock after buying an additional 11,382 shares during the period. Foundations Investment Advisors LLC's holdings in Broadcom were worth $8,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in the stock. tru Independence LLC purchased a new position in shares of Broadcom during the fourth quarter valued at $211,000. West Wealth Group LLC grew its holdings in Broadcom by 16.1% during the 4th quarter. West Wealth Group LLC now owns 11,233 shares of the semiconductor manufacturer's stock worth $2,604,000 after acquiring an additional 1,554 shares in the last quarter. Heartland Bank & Trust Co increased its position in Broadcom by 1.7% during the 4th quarter. Heartland Bank & Trust Co now owns 17,135 shares of the semiconductor manufacturer's stock valued at $3,973,000 after purchasing an additional 285 shares during the period. Webster Bank N. A. raised its holdings in shares of Broadcom by 2.4% in the 4th quarter. Webster Bank N. A. now owns 10,949 shares of the semiconductor manufacturer's stock valued at $2,538,000 after purchasing an additional 256 shares in the last quarter. Finally, Center For Asset Management LLC lifted its position in shares of Broadcom by 1.0% in the 4th quarter. Center For Asset Management LLC now owns 12,156 shares of the semiconductor manufacturer's stock worth $2,818,000 after purchasing an additional 115 shares during the period. 76.43% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on AVGO. Jefferies Financial Group lifted their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a "buy" rating in a report on Friday, December 13th. Morgan Stanley reduced their price target on Broadcom from $265.00 to $246.00 and set an "overweight" rating for the company in a research report on Tuesday. UBS Group raised their price objective on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Evercore ISI boosted their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Finally, Barclays raised their price target on shares of Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $225.04.
View Our Latest Analysis on Broadcom
Shares of NASDAQ AVGO opened at $206.35 on Thursday. Broadcom Inc. has a 52 week low of $117.43 and a 52 week high of $251.88. The business's 50 day moving average price is $210.37 and its 200 day moving average price is $181.05. 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 firm has a market cap of $967.24 billion, a P/E ratio of 168.31, a P/E/G ratio of 2.52 and a beta of 1.03.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the firm earned $0.98 EPS. The business's revenue for the quarter was up 51.2% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.14%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is presently 192.50%.
In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the sale, the chief executive officer now directly owns 842,836 shares of the company's stock, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares of the company's stock, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last quarter. 2.00% of the stock is currently owned by company insiders.
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.
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