Broadcom Inc. (NASDAQ:AVGO) is Turtle Creek Wealth Advisors LLC's 10th Largest Position

Turtle Creek Wealth Advisors LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 50,305 shares of the semiconductor manufacturer's stock after acquiring an additional 1,693 shares during the quarter. Broadcom comprises about 2.7% of Turtle Creek Wealth Advisors LLC's portfolio, making the stock its 10th largest position. Turtle Creek Wealth Advisors LLC's holdings in Broadcom were worth $11,663,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. AMF Tjanstepension AB grew its position in Broadcom by 856.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer's stock worth $175,101,000 after purchasing an additional 908,585 shares during the period. Czech National Bank boosted its stake in shares of Broadcom by 1,042.3% in the third quarter. Czech National Bank now owns 948,249 shares of the semiconductor manufacturer's stock worth $163,573,000 after buying an additional 865,238 shares during the last quarter. GAMMA Investing LLC grew its holdings in Broadcom by 1,136.4% during the third quarter. GAMMA Investing LLC now owns 85,610 shares of the semiconductor manufacturer's stock worth $14,768,000 after acquiring an additional 78,686 shares during the period. WealthBridge Capital Management LLC raised its position in Broadcom by 986.0% during the third quarter. WealthBridge Capital Management LLC now owns 3,801 shares of the semiconductor manufacturer's stock valued at $656,000 after acquiring an additional 3,451 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its holdings in Broadcom by 806.0% in the third quarter. Azzad Asset Management Inc. ADV now owns 36,774 shares of the semiconductor manufacturer's stock valued at $6,344,000 after acquiring an additional 32,715 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

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

Broadcom Trading Up 2.6 %

Shares of AVGO opened at $221.27 on Monday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $213.41 and a 200 day moving average price of $182.02. Broadcom Inc. has a 12-month low of $117.43 and a 12-month high of $251.88. The firm has a market capitalization of $1.04 trillion, a P/E ratio of 180.48, a P/E/G ratio of 2.16 and a beta of 1.03.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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 net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the firm earned $0.98 EPS. The business's revenue was up 51.2% compared to the same quarter last year. Sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared 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 1.07%. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is 192.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Evercore ISI lifted their target price on shares of Broadcom from $201.00 to $250.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Truist Financial upped their price target on Broadcom from $205.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, December 13th. TD Cowen boosted their price objective on Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Bank of America increased their target price on Broadcom from $215.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Finally, Hsbc Global Res raised shares of Broadcom to a "hold" rating in a report on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to data from MarketBeat, Broadcom presently has an average rating of "Moderate Buy" and a consensus price target of $225.04.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.