Spirepoint Private Client LLC Buys 1,929 Shares of Broadcom Inc. (NASDAQ:AVGO)

Spirepoint Private Client LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,568 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,929 shares during the period. Broadcom makes up approximately 2.5% of Spirepoint Private Client LLC’s investment portfolio, making the stock its 5th largest holding. Spirepoint Private Client LLC’s holdings in Broadcom were worth $20,302,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. Elm3 Financial Group LLC bought a new stake in shares of Broadcom in the 4th quarter valued at about $4,490,000. Financial Advocates Investment Management grew its holdings in Broadcom by 10.1% during the fourth quarter. Financial Advocates Investment Management now owns 19,509 shares of the semiconductor manufacturer’s stock valued at $4,523,000 after purchasing an additional 1,788 shares during the period. Beacon Financial Advisory LLC increased its stake in Broadcom by 13.9% in the fourth quarter. Beacon Financial Advisory LLC now owns 3,558 shares of the semiconductor manufacturer’s stock valued at $825,000 after purchasing an additional 435 shares in the last quarter. Adero Partners LLC raised its holdings in Broadcom by 4.8% in the fourth quarter. Adero Partners LLC now owns 3,064 shares of the semiconductor manufacturer’s stock worth $710,000 after purchasing an additional 141 shares during the period. Finally, Avid Wealth Partners LLC bought a new position in shares of Broadcom during the fourth quarter worth $201,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, CFO Kirsten M. Spears sold 12,570 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the transaction, the chief financial officer now owns 325,443 shares in the company, valued at $74,728,221.66. This represents a 3.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Harry L. You sold 6,540 shares of Broadcom 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 owns 30,450 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by insiders.

Broadcom Stock Down 2.8 %

AVGO stock opened at $224.87 on Monday. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The business’s 50 day simple moving average is $219.76 and its 200 day simple moving average is $184.32. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $1.05 trillion, a PE ratio of 183.42, a PEG ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data 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%. The company’s revenue was up 51.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 earnings per share. As a group, research analysts anticipate 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 issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 192.50%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research analyst reports. Benchmark reaffirmed a “buy” rating and set a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft raised their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Susquehanna boosted their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. UBS Group raised their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, TD Cowen upped their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

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.