Americana Partners LLC Has $42.34 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Americana Partners LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 440.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 182,617 shares of the semiconductor manufacturer's stock after buying an additional 148,796 shares during the quarter. Broadcom makes up about 1.7% of Americana Partners LLC's investment portfolio, making the stock its 11th largest holding. Americana Partners LLC's holdings in Broadcom were worth $42,338,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. State Street Corp raised its holdings in Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer's stock valued at $31,814,902,000 after buying an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer's stock valued at $17,055,760,000 after acquiring an additional 89,975,941 shares during the last quarter. FMR LLC raised its stake in shares of Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer's stock valued at $15,594,088,000 after acquiring an additional 82,998,328 shares in the last quarter. Jennison Associates LLC lifted its holdings in Broadcom by 842.4% in the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock worth $6,209,758,000 after purchasing an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer's stock worth $5,833,894,000 after purchasing an additional 30,674,902 shares during the period. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, December 13th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Hsbc Global Res upgraded Broadcom to a "hold" rating in a research note on Tuesday, December 3rd. Finally, Citigroup increased their target price on Broadcom from $175.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, Broadcom has an average rating of "Moderate Buy" and an average target price of $225.04.

Broadcom Price Performance

AVGO traded down $8.84 during midday trading on Friday, reaching $217.90. 12,635,342 shares of the company's stock were exchanged, compared to its average volume of 27,238,252. 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 business has a 50-day simple moving average of $230.21 and a two-hundred day simple moving average of $189.26. The firm has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 177.78, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its 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. The business had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom's quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. As a group, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is currently 191.87%.

Insider Transactions at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by insiders.

About Broadcom

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.