Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Strong Tower Advisory Services

Strong Tower Advisory Services increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 14,166 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,083 shares during the period. Broadcom makes up approximately 0.9% of Strong Tower Advisory Services’ holdings, making the stock its 25th biggest holding. Strong Tower Advisory Services’ holdings in Broadcom were worth $3,284,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Wealth Management Partners LLC lifted its position in shares of Broadcom by 2.6% during the fourth quarter. Wealth Management Partners LLC now owns 9,747 shares of the semiconductor manufacturer’s stock worth $2,260,000 after purchasing an additional 244 shares in the last quarter. M.E. Allison & CO. Inc. acquired a new position in Broadcom in the 4th quarter worth $1,862,000. Consolidated Capital Management LLC lifted its holdings in Broadcom by 0.3% in the 4th quarter. Consolidated Capital Management LLC now owns 20,973 shares of the semiconductor manufacturer’s stock worth $4,862,000 after buying an additional 68 shares in the last quarter. Trueblood Wealth Management LLC boosted its position in Broadcom by 4.6% in the 4th quarter. Trueblood Wealth Management LLC now owns 5,818 shares of the semiconductor manufacturer’s stock valued at $1,349,000 after buying an additional 256 shares during the last quarter. Finally, Mechanics Bank Trust Department grew its stake in shares of Broadcom by 13.8% during the fourth quarter. Mechanics Bank Trust Department now owns 14,683 shares of the semiconductor manufacturer’s stock valued at $3,404,000 after acquiring an additional 1,785 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $240.31 on Wednesday. The firm’s 50-day simple moving average is $203.18 and its 200 day simple moving average is $178.65. The stock has a market cap of $1.13 trillion, a P/E ratio of 196.01, a P/E/G ratio of 2.48 and a beta of 1.03. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a fifty-two week low of $117.43 and a fifty-two week high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the business posted $0.98 EPS. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. Equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 192.50%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AVGO shares. Evercore ISI increased their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. TD Cowen lifted their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Mizuho upped their price target on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Jefferies Financial Group raised their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $225.83.

Insider Activity

In related news, Director Harry L. You sold 6,540 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction 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. This represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 over the last 90 days. 2.00% of the stock is currently owned by company 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.