Northstar Advisory Group LLC Acquires Shares of 4,868 Broadcom Inc. (NASDAQ:AVGO)

Northstar Advisory Group LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,868 shares of the semiconductor manufacturer's stock, valued at approximately $1,129,000.

Several other institutional investors have also made changes to their positions in the company. Castleview Partners LLC increased its holdings in shares of Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 134 shares during the period. Pin Oak Investment Advisors Inc. increased its stake in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 135 shares during the period. JDM Financial Group LLC lifted its position in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock worth $32,000 after buying an additional 172 shares in the last quarter. Tsfg LLC boosted its stake in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 204 shares during the period. Finally, Cedar Wealth Management LLC grew its holdings in shares of Broadcom by 900.0% during the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer's stock valued at $41,000 after acquiring an additional 216 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AVGO shares. Susquehanna increased their price objective on Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a report on Friday, December 13th. Bank of America raised their price target on Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Truist Financial boosted their price target on Broadcom from $205.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Mizuho raised their price objective on shares of Broadcom from $245.00 to $260.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $240.00 target price on shares of Broadcom in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $223.54.

Broadcom Stock Performance

AVGO traded down $0.59 on Tuesday, hitting $224.70. 18,115,384 shares of the stock traded hands, compared to its average volume of 25,116,283. The business has a fifty day moving average price of $199.05 and a two-hundred day moving average price of $176.63. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $1.05 trillion, a PE ratio of 195.22, a P/E/G ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a 52 week low of $109.02 and a 52 week 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom'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 earnings per share. On average, research analysts predict that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom's dividend payout ratio (DPR) is presently 191.87%.

Insider Activity

In other news, Director Harry L. You sold 6,540 shares of the business's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following 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 three months, insiders have sold 191,278 shares of company stock worth $44,964,800. Corporate insiders own 2.00% of the company's stock.

Broadcom Company 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.