Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Maiden Cove Capital LLC

Maiden Cove Capital LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 903.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,370 shares of the semiconductor manufacturer's stock after buying an additional 3,034 shares during the period. Broadcom comprises 1.4% of Maiden Cove Capital LLC's investment portfolio, making the stock its 22nd biggest holding. Maiden Cove Capital LLC's holdings in Broadcom were worth $781,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Lbmc Investment Advisors LLC purchased a new stake in shares of Broadcom during the 4th quarter worth approximately $231,000. Liberty One Investment Management LLC raised its holdings in Broadcom by 1.0% during the fourth quarter. Liberty One Investment Management LLC now owns 30,268 shares of the semiconductor manufacturer's stock worth $7,017,000 after purchasing an additional 307 shares during the last quarter. Oak Ridge Investments LLC boosted its position in Broadcom by 5.9% during the fourth quarter. Oak Ridge Investments LLC now owns 194,123 shares of the semiconductor manufacturer's stock worth $45,005,000 after purchasing an additional 10,766 shares in the last quarter. Aaron Wealth Advisors LLC increased its position in shares of Broadcom by 10.7% in the fourth quarter. Aaron Wealth Advisors LLC now owns 21,354 shares of the semiconductor manufacturer's stock valued at $4,951,000 after buying an additional 2,066 shares in the last quarter. Finally, Whitaker Myers Wealth Managers LTD. acquired a new position in shares of Broadcom during the 4th quarter worth $542,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Up 1.2 %

Broadcom stock traded up $2.87 during midday trading on Tuesday, hitting $240.31. 30,766,885 shares of the stock were exchanged, compared to its average volume of 25,676,523. 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 50 day moving average price of $203.18 and a two-hundred day moving average price of $178.65. The firm has a market cap of $1.13 trillion, a P/E ratio of 196.01, a P/E/G ratio of 2.48 and a beta of 1.03. Broadcom Inc. has a 1 year low of $117.43 and a 1 year high of $251.88.

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 return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the firm earned $0.98 EPS. Broadcom's quarterly revenue was up 51.2% on a year-over-year basis. On average, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share 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 issued a $0.59 dividend. 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 0.98%. Broadcom's dividend payout ratio is currently 192.50%.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 45,000 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the sale, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 12,570 shares of the firm's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $229.62, for a total value of $2,886,323.40. Following the transaction, the chief financial officer now owns 325,443 shares in the company, valued at $74,728,221.66. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research reports. Rosenblatt Securities reissued a "buy" rating and issued a $240.00 price objective on shares of Broadcom in a research note on Wednesday, December 11th. TD Cowen raised their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Benchmark restated a "buy" rating and set a $255.00 price objective (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. UBS Group increased their target price on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a report on Monday, November 4th. Finally, Citigroup boosted their price target on Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Three equities 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 has an average rating of "Moderate Buy" and an average price target of $225.83.

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.