Verity & Verity LLC Has $69.86 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Verity & Verity LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 301,334 shares of the semiconductor manufacturer's stock after buying an additional 15,433 shares during the period. Broadcom comprises about 6.4% of Verity & Verity LLC's holdings, making the stock its largest position. Verity & Verity LLC's holdings in Broadcom were worth $69,861,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AVGO. Integrated Investment Consultants LLC lifted its stake in Broadcom by 0.9% during the 4th quarter. Integrated Investment Consultants LLC now owns 5,392 shares of the semiconductor manufacturer's stock valued at $1,250,000 after acquiring an additional 47 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its holdings in shares of Broadcom by 4.0% in the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 14,492 shares of the semiconductor manufacturer's stock valued at $3,360,000 after purchasing an additional 563 shares during the last quarter. Dakota Community Bank & Trust NA lifted its position in shares of Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock valued at $391,000 after purchasing an additional 45 shares in the last quarter. TrueWealth Advisors LLC boosted its holdings in Broadcom by 4.2% during the fourth quarter. TrueWealth Advisors LLC now owns 2,073 shares of the semiconductor manufacturer's stock worth $481,000 after purchasing an additional 84 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC grew its position in Broadcom by 2.9% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 3,520 shares of the semiconductor manufacturer's stock worth $816,000 after purchasing an additional 100 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now owns 696,730 shares of the company's stock, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 over the last 90 days. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Cantor Fitzgerald boosted their target price on Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Piper Sandler lifted their price target on Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Benchmark restated a "buy" rating and issued a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Rosenblatt Securities reiterated a "buy" rating and set a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Finally, Mizuho boosted their price target on shares of Broadcom from $245.00 to $260.00 and gave the stock an "outperform" rating in a report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.83.

Broadcom Price Performance

NASDAQ:AVGO traded up $8.03 during trading hours 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. The firm has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 193.67, a P/E/G ratio of 2.35 and a beta of 1.03. Broadcom Inc. has a one year low of $112.19 and a one year high of $251.88. The company has a 50 day simple moving average of $202.01 and a two-hundred day simple moving average of $178.14. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results 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 business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company's quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS. Research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is currently 192.50%.

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.