Nichols & Pratt Advisers LLP MA Acquires 80 Shares of Broadcom Inc. (NASDAQ:AVGO)

Nichols & Pratt Advisers LLP MA grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,300 shares of the semiconductor manufacturer’s stock after acquiring an additional 80 shares during the quarter. Nichols & Pratt Advisers LLP MA’s holdings in Broadcom were worth $765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobi Capital Management LLC lifted its holdings in shares of Broadcom by 7.4% during the 4th quarter. Jacobi Capital Management LLC now owns 11,907 shares of the semiconductor manufacturer’s stock valued at $2,761,000 after buying an additional 819 shares during the period. TPG Advisors LLC bought a new position in shares of Broadcom during the 4th quarter valued at $216,000. Noble Wealth Management PBC bought a new position in Broadcom in the 4th quarter worth $179,000. US Bancorp DE raised its holdings in Broadcom by 7.2% in the 4th quarter. US Bancorp DE now owns 1,199,060 shares of the semiconductor manufacturer’s stock worth $277,992,000 after purchasing an additional 80,096 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in Broadcom by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 23,903,319 shares of the semiconductor manufacturer’s stock worth $5,541,746,000 after purchasing an additional 480,538 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Up 0.8 %

Shares of NASDAQ:AVGO opened at $199.29 on Friday. 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 Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a 50-day moving average price of $227.44 and a 200 day moving average price of $192.11. The company has a market cap of $934.16 billion, a price-to-earnings ratio of 162.56, a PEG ratio of 2.29 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. As a group, equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.18%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Insiders Place Their Bets

In other news, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This 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 valued at $44,964,800 over the last 90 days. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AVGO shares. Bank of America raised their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Jefferies Financial Group increased their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Mizuho increased their price target on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, Barclays increased their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $225.04.

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.