Private Client Services LLC Purchases 67 Shares of Broadcom Inc. (NASDAQ:AVGO)

Private Client Services LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,269 shares of the semiconductor manufacturer’s stock after purchasing an additional 67 shares during the period. Private Client Services LLC’s holdings in Broadcom were worth $758,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AVGO. NCP Inc. raised its position in shares of Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after buying an additional 400 shares in the last quarter. LGT Fund Management Co Ltd. increased its stake in Broadcom by 172.1% during the second quarter. LGT Fund Management Co Ltd. now owns 8,313 shares of the semiconductor manufacturer’s stock worth $13,347,000 after acquiring an additional 5,258 shares during the last quarter. Global X Japan Co. Ltd. raised its position in Broadcom by 23.5% during the second quarter. Global X Japan Co. Ltd. now owns 26,731 shares of the semiconductor manufacturer’s stock valued at $42,917,000 after purchasing an additional 5,093 shares during the period. Royal London Asset Management Ltd. lifted its stake in shares of Broadcom by 3.7% in the 2nd quarter. Royal London Asset Management Ltd. now owns 395,603 shares of the semiconductor manufacturer’s stock valued at $635,152,000 after purchasing an additional 14,167 shares during the last quarter. Finally, Bright Futures Wealth Management LLC. lifted its stake in shares of Broadcom by 991.2% in the 2nd quarter. Bright Futures Wealth Management LLC. now owns 16,739 shares of the semiconductor manufacturer’s stock valued at $26,875,000 after purchasing an additional 15,205 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent research reports. Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup increased their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Jefferies Financial Group raised their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Barclays upped their price target on shares of Broadcom from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, Mizuho raised their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.88.

Broadcom Stock Up 0.4 %

Shares of AVGO traded up $0.97 during mid-day trading on Wednesday, hitting $229.61. The company’s stock had a trading volume of 9,739,508 shares, compared to its average volume of 25,184,520. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company’s 50-day moving average is $193.55 and its 200-day moving average is $174.58. Broadcom Inc. has a 52-week low of $106.26 and a 52-week high of $251.88. The firm has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 199.49, a PEG ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. On average, equities research analysts forecast that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. 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 1.03%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,228 shares of company stock valued at $35,643,408. 2.00% of the stock is currently owned by insiders.

About Broadcom

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.