Brown Financial Advisors Increases Holdings in Broadcom Inc. (NASDAQ:AVGO)

Brown Financial Advisors increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 10,125 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,125 shares during the period. Brown Financial Advisors’ holdings in Broadcom were worth $2,347,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Pin Oak Investment Advisors Inc. boosted its position in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the period. JDM Financial Group LLC lifted its stake 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 purchasing an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in Broadcom in the 4th quarter valued at $37,000. R Squared Ltd purchased a new position in shares of Broadcom during the 4th quarter valued at $39,000. Finally, Cedar Wealth Management LLC increased its holdings in shares of Broadcom by 900.0% in the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after purchasing an additional 216 shares during the period. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Piper Sandler boosted their price objective on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Susquehanna raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” 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 research note on Friday, December 13th. Finally, Truist Financial increased their price target on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three equities 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were 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 represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 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.

Broadcom Trading Up 5.1 %

Shares of NASDAQ:AVGO opened at $212.94 on Thursday. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The company has a market cap of $998.13 billion, a PE ratio of 173.69, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. The stock has a 50 day moving average of $228.28 and a 200 day moving average of $191.46. 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 posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS 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 business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the firm earned $0.98 earnings per share. The business’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current 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 given a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is currently 191.87%.

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.