Charles Schwab Trust Co Increases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Charles Schwab Trust Co grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,810 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,720 shares during the period. Charles Schwab Trust Co’s holdings in Broadcom were worth $6,216,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AVGO. Aspiriant LLC increased its stake in Broadcom by 6.2% during the 4th quarter. Aspiriant LLC now owns 11,477 shares of the semiconductor manufacturer’s stock worth $2,661,000 after buying an additional 672 shares during the period. Ballentine Partners LLC increased its position in shares of Broadcom by 8.5% during the fourth quarter. Ballentine Partners LLC now owns 82,265 shares of the semiconductor manufacturer’s stock worth $19,072,000 after acquiring an additional 6,474 shares during the period. Atwood & Palmer Inc. raised its stake in shares of Broadcom by 10.2% in the fourth quarter. Atwood & Palmer Inc. now owns 2,182 shares of the semiconductor manufacturer’s stock valued at $506,000 after acquiring an additional 202 shares in the last quarter. Tudor Financial Inc. purchased a new position in Broadcom in the fourth quarter valued at $289,000. Finally, Abacus Wealth Partners LLC acquired a new position in Broadcom during the 4th quarter worth $243,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 0.2 %

Broadcom stock opened at $240.91 on Thursday. The stock has a 50 day moving average of $204.46 and a two-hundred day moving average of $179.16. Broadcom Inc. has a twelve month low of $117.43 and a twelve month high of $251.88. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 196.50, a PEG ratio of 2.48 and a beta of 1.03. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. As a group, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.98%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is 192.50%.

Insider Buying and Selling

In other Broadcom news, 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 value of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction on 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 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 sold 191,278 shares of company stock valued at $44,964,800 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. TD Cowen lifted their price target 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. Bank of America boosted their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Barclays lifted their price objective on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. increased their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a 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 stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $225.83.

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.