GAM Holding AG Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

GAM Holding AG increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 74.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 125,850 shares of the semiconductor manufacturer's stock after acquiring an additional 53,843 shares during the quarter. Broadcom comprises 2.2% of GAM Holding AG's investment portfolio, making the stock its 9th largest holding. GAM Holding AG's holdings in Broadcom were worth $29,177,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AVGO. AMF Tjanstepension AB boosted its stake in Broadcom by 856.9% in 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. Alpha Financial Partners LLC purchased a new position in shares of Broadcom during the third quarter valued at approximately $404,000. Wealth Group Ltd. increased its stake in shares of Broadcom by 900.0% during the third quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer's stock valued at $304,000 after buying an additional 1,584 shares during the period. Swedbank AB increased its stake in shares of Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock valued at $3,168,798,000 after buying an additional 16,453,718 shares during the period. Finally, Howard Capital Management Group LLC boosted its position in shares of Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer's stock valued at $524,000 after purchasing an additional 2,908 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

NASDAQ AVGO traded down $8.13 during trading on Friday, reaching $218.61. The company's stock had a trading volume of 24,786,947 shares, compared to its average volume of 27,613,346. The firm has a market cap of $1.02 trillion, a price-to-earnings ratio of 178.32, a P/E/G ratio of 2.39 and a beta of 1.02. The business's fifty day moving average price is $230.21 and its 200-day moving average price is $189.26. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88.

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, 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 firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The firm's revenue was up 51.2% on a year-over-year basis. As a group, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.08%. Broadcom's dividend payout ratio is 191.87%.

Insider Buying and Selling

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the transaction, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. This represents a 69.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Harry L. You sold 6,540 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,278 shares of company stock valued at $44,964,800. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AVGO shares. Deutsche Bank Aktiengesellschaft boosted their target price on Broadcom from $190.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Piper Sandler upped their price target on Broadcom from $200.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Mizuho upped their price objective on Broadcom from $245.00 to $260.00 and gave the company an "outperform" rating in a research report on Friday, January 10th. UBS Group upped their price target on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Finally, Benchmark restated a "buy" rating and issued a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.