Argentarii LLC Buys Shares of 23,375 Broadcom Inc. (NASDAQ:AVGO)

Argentarii LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 23,375 shares of the semiconductor manufacturer's stock, valued at approximately $5,419,000. Broadcom accounts for approximately 2.7% of Argentarii LLC's holdings, making the stock its 7th biggest holding.

Several other institutional investors also recently bought and sold shares of AVGO. Pin Oak Investment Advisors Inc. increased its stake in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 135 shares during the period. Canton Hathaway LLC purchased a new stake in shares of Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom in the 4th quarter worth about $26,000. JDM Financial Group LLC boosted its position in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock worth $32,000 after buying an additional 172 shares in the last quarter. Finally, Bellevue Asset Management LLC purchased a new stake in shares of Broadcom in the 4th quarter worth about $33,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AVGO. Barclays boosted their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research note on Friday. Citigroup upped their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. KeyCorp upped their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Morgan Stanley increased their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $231.48.

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Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Diane M. Bryant sold 15,000 shares of the business's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the sale, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $15.51 during midday trading on Friday, reaching $194.96. 74,457,084 shares of the company traded hands, compared to its average volume of 29,443,255. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The stock has a 50-day moving average price of $222.28 and a 200 day moving average price of $193.12. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market cap of $913.85 billion, a price-to-earnings ratio of 159.02, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $14.07 billion. During the same period in the previous year, the business earned $0.98 earnings per share. The company's revenue was up 51.2% on a year-over-year basis. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is presently 191.87%.

Broadcom 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.