Ballentine Partners LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,265 shares of the semiconductor manufacturer's stock after acquiring an additional 6,474 shares during the period. Ballentine Partners LLC's holdings in Broadcom were worth $19,072,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Castleview Partners LLC increased its holdings in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its position in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 135 shares during the period. JDM Financial Group LLC increased its holdings in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock valued at $32,000 after buying an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Broadcom in the fourth quarter worth about $37,000. Finally, Tsfg LLC boosted its stake in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after acquiring an additional 204 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Kirsten M. Spears sold 12,570 shares of the firm's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the completion of the transaction, the chief financial officer now directly owns 325,443 shares in the company, valued at $74,728,221.66. This trade represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares of the company's stock, valued at $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 in the last quarter. Insiders own 2.00% of the company's stock.
AVGO has been the subject of several recent analyst reports. Evercore ISI lifted their price target on Broadcom from $201.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. UBS Group boosted their price objective on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, November 4th. TD Cowen increased their target price on Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a research report 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. Finally, Barclays increased their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and an average target price of $225.83.
View Our Latest Stock Analysis on AVGO
Shares of AVGO opened at $240.91 on Thursday. Broadcom Inc. has a 12-month low of $117.43 and a 12-month high of $251.88. The firm has a market capitalization of $1.13 trillion, a P/E ratio of 196.50, a P/E/G ratio of 2.48 and a beta of 1.03. The firm has a 50-day moving average price of $204.46 and a 200 day moving average price of $179.16. 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 - Get Free Report) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom's revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. Sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.
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 $0.59 dividend. 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 0.98%. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is currently 192.50%.
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.
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