Diversified Enterprises LLC Buys 369 Shares of Broadcom Inc. (NASDAQ:AVGO)

Diversified Enterprises LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,120 shares of the semiconductor manufacturer’s stock after purchasing an additional 369 shares during the quarter. Diversified Enterprises LLC’s holdings in Broadcom were worth $1,187,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Canton Hathaway LLC bought a new position in Broadcom in the 4th quarter valued at $26,000. Rialto Wealth Management LLC bought a new position in Broadcom in the 4th quarter valued at $26,000. Bellevue Asset Management LLC bought a new position in Broadcom in the 4th quarter valued at $33,000. Pin Oak Investment Advisors Inc. raised its position in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Finally, Synergy Investment Management LLC bought a new position in Broadcom in the 4th quarter valued at $35,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Piper Sandler lifted their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Jefferies Financial Group lifted their target price on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Evercore ISI lifted their target price on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Performance

Shares of Broadcom stock opened at $195.54 on Friday. The firm has a market cap of $919.42 billion, a price-to-earnings ratio of 159.50, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The stock’s 50-day moving average is $218.12 and its 200-day moving average is $193.68. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 28.00% and a net margin of 11.43%. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 earnings per share. Equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

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.