PFC Capital Group Inc. Increases Position in Broadcom Inc. (NASDAQ:AVGO)

PFC Capital Group Inc. boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,155 shares of the semiconductor manufacturer’s stock after buying an additional 150 shares during the period. PFC Capital Group Inc.’s holdings in Broadcom were worth $963,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AVGO. Howard Capital Management Group LLC raised its holdings in shares of Broadcom by 2,219.8% in the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after acquiring an additional 2,908 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after purchasing an additional 6,540,800 shares during the period. Edgestream Partners L.P. lifted its position in Broadcom by 2,491.7% during the third quarter. Edgestream Partners L.P. now owns 14,047 shares of the semiconductor manufacturer’s stock valued at $2,423,000 after buying an additional 13,505 shares in the last quarter. Cobblestone Capital Advisors LLC NY lifted its holdings in shares of Broadcom by 993.1% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 5,225 shares of the semiconductor manufacturer’s stock valued at $901,000 after acquiring an additional 4,747 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in shares of Broadcom during the third quarter worth about $5,414,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AVGO shares. Bank of America boosted their target price on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Barclays lifted their price target on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Piper Sandler boosted their price objective on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $167.43 on Tuesday. The stock’s fifty day simple moving average is $208.08 and its 200 day simple moving average is $196.54. The stock has a market capitalization of $787.25 billion, a price-to-earnings ratio of 136.57, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Insiders Place Their Bets

In other Broadcom 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 value of $918,560.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction dated Thursday, January 2nd. The shares were 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 of the company’s stock, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 785,976 shares of company stock worth $147,912,102. Corporate insiders own 2.00% of the company’s stock.

Broadcom 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.