Broadcom Inc. (NASDAQ:AVGO) is Appleton Partners Inc. MA’s 6th Largest Position

Appleton Partners Inc. MA lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,323 shares of the semiconductor manufacturer’s stock after selling 10,337 shares during the quarter. Broadcom comprises 2.8% of Appleton Partners Inc. MA’s portfolio, making the stock its 6th biggest holding. Appleton Partners Inc. MA’s holdings in Broadcom were worth $37,633,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Platform Technology Partners raised its holdings in Broadcom by 9.4% during the fourth quarter. Platform Technology Partners now owns 2,778 shares of the semiconductor manufacturer’s stock valued at $644,000 after acquiring an additional 239 shares during the period. Realta Investment Advisors grew its position in shares of Broadcom by 1.0% during the fourth quarter. Realta Investment Advisors now owns 20,640 shares of the semiconductor manufacturer’s stock worth $4,800,000 after purchasing an additional 206 shares in the last quarter. Triasima Portfolio Management inc. raised its stake in Broadcom by 30.8% during the 4th quarter. Triasima Portfolio Management inc. now owns 34,108 shares of the semiconductor manufacturer’s stock valued at $7,908,000 after purchasing an additional 8,023 shares during the period. Golden State Wealth Management LLC purchased a new position in Broadcom in the 4th quarter worth approximately $3,454,000. Finally, Gilliland Jeter Wealth Management LLC grew its holdings in Broadcom by 0.6% during the 4th quarter. Gilliland Jeter Wealth Management LLC now owns 13,822 shares of the semiconductor manufacturer’s stock valued at $3,204,000 after buying an additional 82 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

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 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 directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now directly 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. In the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on AVGO. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Jefferies Financial Group increased their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Piper Sandler lifted their target price on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. TD Cowen increased their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Robert W. Baird lifted their price objective on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Stock Performance

Broadcom stock opened at $235.04 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market capitalization of $1.10 trillion, a PE ratio of 191.71, a P/E/G ratio of 2.42 and a beta of 1.02. The company has a 50 day moving average price of $219.76 and a 200-day moving average price of $184.56. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its 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. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the business earned $0.98 EPS. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.00%. Broadcom’s dividend payout ratio (DPR) is 192.50%.

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.