Altium Wealth Management LLC Boosts Stock Holdings in Broadcom Inc (NASDAQ:AVGO)

Altium Wealth Management LLC grew its position in shares of Broadcom Inc (NASDAQ:AVGO) by 5.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,798 shares of the semiconductor manufacturer’s stock after purchasing an additional 149 shares during the period. Altium Wealth Management LLC’s holdings in Broadcom were worth $884,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Nuveen Asset Management LLC raised its position in Broadcom by 2,421.3% in the second quarter. Nuveen Asset Management LLC now owns 3,410,706 shares of the semiconductor manufacturer’s stock worth $981,806,000 after acquiring an additional 3,275,431 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Broadcom by 1,808.4% in the second quarter. Point72 Asset Management L.P. now owns 777,480 shares of the semiconductor manufacturer’s stock worth $223,805,000 after purchasing an additional 736,741 shares in the last quarter. Natixis increased its stake in shares of Broadcom by 840.6% in the second quarter. Natixis now owns 440,738 shares of the semiconductor manufacturer’s stock worth $126,871,000 after purchasing an additional 393,880 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Broadcom by 24.6% in the second quarter. UBS Asset Management Americas Inc. now owns 1,892,948 shares of the semiconductor manufacturer’s stock worth $544,904,000 after purchasing an additional 373,703 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Broadcom by 33.7% in the third quarter. California Public Employees Retirement System now owns 911,270 shares of the semiconductor manufacturer’s stock worth $251,574,000 after purchasing an additional 229,749 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

In other Broadcom news, CEO Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction on Monday, December 16th. The shares were sold at an average price of $319.82, for a total value of $6,396,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 115,000 shares of company stock valued at $36,014,100 over the last three months. Corporate insiders own 3.30% of the company’s stock.

A number of analysts have recently issued reports on AVGO shares. Cascend Securities increased their price objective on shares of Broadcom from $330.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Citigroup increased their price objective on shares of Broadcom from $340.00 to $378.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. SunTrust Banks set a $322.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a research note on Friday, September 27th. KeyCorp increased their price objective on shares of Broadcom from $340.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $380.00 price objective on shares of Broadcom in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $331.77.

AVGO traded down $1.54 during trading on Friday, hitting $305.51. 616,526 shares of the company traded hands, compared to its average volume of 2,657,123. The company has a market cap of $122.59 billion, a PE ratio of 17.55, a P/E/G ratio of 1.50 and a beta of 0.90. The stock’s 50-day simple moving average is $314.61 and its two-hundred day simple moving average is $295.16. Broadcom Inc has a 1 year low of $248.72 and a 1 year high of $331.20. The company has a current ratio of 1.44, a quick ratio of 1.31 and a debt-to-equity ratio of 1.58.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $5.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.35 by $0.04. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.74 billion. Broadcom had a net margin of 12.06% and a return on equity of 46.16%. Broadcom’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $5.85 earnings per share. Equities analysts expect that Broadcom Inc will post 19.22 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $3.25 dividend. This is a boost from Broadcom’s previous quarterly dividend of $2.65. This represents a $13.00 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date was Friday, December 20th. Broadcom’s dividend payout ratio (DPR) is presently 74.67%.

Broadcom Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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