Brooklyn Investment Group boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,971 shares of the semiconductor manufacturer's stock after purchasing an additional 1,614 shares during the period. Broadcom comprises 2.0% of Brooklyn Investment Group's holdings, making the stock its 7th largest position. Brooklyn Investment Group's holdings in Broadcom were worth $6,716,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of AVGO. Central Pacific Bank Trust Division lifted its stake in Broadcom by 21.5% in 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 purchasing an additional 3,707 shares during the last quarter. AXA S.A. raised its stake in shares of Broadcom by 2.7% in the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer's stock valued at $467,334,000 after buying an additional 7,608 shares during the period. Strait & Sound Wealth Management LLC lifted its position in shares of Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer's stock valued at $1,371,000 after buying an additional 7,095 shares during the last quarter. Catalyst Financial Partners LLC lifted its position in shares of Broadcom by 943.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock valued at $3,473,000 after buying an additional 18,206 shares during the last quarter. Finally, Whittier Trust Co. grew its stake in shares of Broadcom by 947.2% during the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock worth $119,000,000 after acquiring an additional 623,983 shares during the period. Institutional investors own 76.43% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently issued reports on AVGO. Rosenblatt Securities reaffirmed a "buy" rating and set a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. TD Cowen upped their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a "hold" rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. increased their target price on Broadcom from $210.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Finally, Morgan Stanley raised their price target on Broadcom from $233.00 to $265.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. Three equities research 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.83.
Check Out Our Latest Analysis on AVGO
Broadcom Price Performance
Shares of NASDAQ AVGO traded up $8.03 during trading hours on Friday, reaching $237.44. 31,036,592 shares of the stock traded hands, compared to its average volume of 41,590,264. The company has a market capitalization of $1.11 trillion, a P/E ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The company's 50-day simple moving average is $202.01 and its two-hundred day simple moving average is $178.14. 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 $112.19 and a 52-week high of $251.88.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business's quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. Equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.99%. Broadcom's dividend payout ratio is currently 192.50%.
Insiders Place Their Bets
In other Broadcom news, Director Harry L. You sold 6,540 shares of the stock in a transaction that occurred 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 sale, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the transaction, the chief executive officer now directly owns 842,836 shares in the company, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Company insiders own 2.00% of the company's stock.
Broadcom Company Profile
(
Free Report)
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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