Broadcom Inc. (NASDAQ:AVGO) Holdings Boosted by Global Wealth Strategies & Associates

Global Wealth Strategies & Associates raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 60.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 506 shares of the semiconductor manufacturer’s stock after buying an additional 191 shares during the quarter. Global Wealth Strategies & Associates’ holdings in Broadcom were worth $117,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after acquiring an additional 166,844,263 shares during the period. Geode Capital Management LLC boosted its stake in Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the period. FMR LLC grew its position in Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after purchasing an additional 82,998,328 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after buying an additional 30,674,902 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 154,408 shares of company stock valued at $33,412,228 over the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.1 %

NASDAQ AVGO traded down $0.32 on Thursday, reaching $231.52. The stock had a trading volume of 20,913,683 shares, compared to its average volume of 30,456,207. Broadcom Inc. has a 1 year low of $104.15 and a 1 year high of $251.88. The business has a 50 day moving average price of $188.87 and a 200 day moving average price of $173.02. 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 has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 201.15, a P/E/G ratio of 2.15 and a beta of 1.13.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. On average, analysts forecast that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Analyst Ratings Changes

Several analysts recently commented on AVGO shares. JPMorgan Chase & Co. raised their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Morgan Stanley lifted their price objective on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Cantor Fitzgerald increased their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. William Blair began coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, Susquehanna increased their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $221.88.

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.