Howard Financial Services LTD. Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Howard Financial Services LTD. grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 20.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,456 shares of the semiconductor manufacturer's stock after acquiring an additional 2,293 shares during the period. Howard Financial Services LTD.'s holdings in Broadcom were worth $3,120,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Disciplined Growth Investors Inc. MN bought a new position in shares of Broadcom during the 2nd quarter valued at approximately $228,000. Security National Bank of Sioux City Iowa IA purchased a new position in Broadcom during the second quarter valued at approximately $234,000. Castleview Partners LLC lifted its holdings in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. boosted its position in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 135 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Broadcom in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of analyst reports. Hsbc Global Res upgraded shares of Broadcom to a "hold" rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Broadcom from $190.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Jefferies Financial Group increased their target price on Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. TD Cowen lifted their target price on Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Finally, Mizuho upped their price target on Broadcom from $245.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, January 10th. Three research 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $225.83.

Broadcom Trading Up 3.5 %

Shares of Broadcom stock traded up $8.03 during trading on Monday, hitting $237.44. The stock had a trading volume of 31,036,592 shares, compared to its average volume of 41,590,264. Broadcom Inc. has a 12 month low of $112.19 and a 12 month high of $251.88. 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 firm's fifty day simple moving average is $202.01 and its 200-day simple moving average is $178.14. The stock has a market cap of $1.11 trillion, a PE ratio of 193.67, a PEG ratio of 2.35 and a beta of 1.03.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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 company had revenue of $14.05 billion for 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 firm's revenue for the quarter was up 51.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 EPS. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.99%. 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 dividend payout ratio is 192.50%.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 20,168 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm's 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 transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 over the last quarter. Company insiders own 2.00% of the company's stock.

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.