Allworth Financial LP raised its position in Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 7.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,801 shares of the semiconductor manufacturer’s stock after acquiring an additional 184 shares during the period. Allworth Financial LP’s holdings in Broadcom were worth $1,566,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. First Personal Financial Services raised its stake in shares of Broadcom by 126.7% in the 3rd quarter. First Personal Financial Services now owns 68 shares of the semiconductor manufacturer’s stock valued at $30,000 after acquiring an additional 38 shares during the period. Coston McIsaac & Partners purchased a new stake in Broadcom during the 2nd quarter worth approximately $32,000. Ritter Daniher Financial Advisory LLC DE increased its stake in Broadcom by 138.7% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 74 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 43 shares during the period. Colonial Trust Advisors purchased a new stake in Broadcom during the 3rd quarter worth approximately $36,000. Finally, Annapolis Financial Services LLC increased its stake in Broadcom by 75.5% during the 3rd quarter. Annapolis Financial Services LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 37 shares during the period. 81.28% of the stock is owned by hedge funds and other institutional investors.
Broadcom Stock Up 1.3 %
Shares of NASDAQ:AVGO opened at $639.23 on Friday. The stock has a market cap of $266.51 billion, a P/E ratio of 21.52, a P/E/G ratio of 1.28 and a beta of 1.10. The firm has a fifty day moving average price of $602.35 and a 200 day moving average price of $539.69. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.52 and a quick ratio of 2.26. Broadcom Inc. has a 1-year low of $415.07 and a 1-year high of $648.50.
Broadcom (NASDAQ:AVGO – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The semiconductor manufacturer reported $10.33 earnings per share for the quarter, topping analysts’ consensus estimates of $9.38 by $0.95. The firm had revenue of $8.92 billion during the quarter, compared to analysts’ expectations of $8.90 billion. Broadcom had a net margin of 37.19% and a return on equity of 73.52%. Broadcom’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.68 EPS. Sell-side analysts predict that Broadcom Inc. will post 38.22 EPS for the current year.
Broadcom Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 22nd will be paid a dividend of $4.60 per share. This represents a $18.40 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Tuesday, March 21st. Broadcom’s dividend payout ratio is currently 61.93%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on AVGO shares. StockNews.com started coverage on shares of Broadcom in a research note on Thursday, March 16th. They set a “buy” rating on the stock. Raymond James reiterated a “market perform” rating on shares of Broadcom in a report on Thursday, March 2nd. Wells Fargo & Company boosted their price target on shares of Broadcom from $580.00 to $600.00 and gave the stock an “equal weight” rating in a report on Friday, March 3rd. KeyCorp boosted their price target on shares of Broadcom from $700.00 to $720.00 and gave the stock an “overweight” rating in a report on Friday, March 3rd. Finally, BNP Paribas started coverage on shares of Broadcom in a report on Tuesday, February 28th. They set an “outperform” rating and a $660.00 price target for the company. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $674.17.
Insiders Place Their Bets
In other Broadcom news, CEO Hock E. Tan sold 30,000 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $626.04, for a total transaction of $18,781,200.00. Following the completion of the transaction, the chief executive officer now owns 214,514 shares in the company, valued at approximately $134,294,344.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Broadcom news, CEO Hock E. Tan sold 30,000 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $626.04, for a total transaction of $18,781,200.00. Following the completion of the transaction, the chief executive officer now owns 214,514 shares in the company, valued at approximately $134,294,344.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 3,175 shares of the company’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $625.01, for a total transaction of $1,984,406.75. Following the transaction, the director now owns 9,734 shares of the company’s stock, valued at approximately $6,083,847.34. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.
Broadcom Company Profile
Broadcom Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.
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