Grandview Asset Management LLC Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Grandview Asset Management LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,039 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,230 shares during the period. Broadcom accounts for 2.8% of Grandview Asset Management LLC’s portfolio, making the stock its 8th largest holding. Grandview Asset Management LLC’s holdings in Broadcom were worth $7,660,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AVGO. Central Pacific Bank Trust Division increased its stake in shares of Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares in the last quarter. AXA S.A. increased its stake in shares of Broadcom by 2.7% in the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after purchasing an additional 7,608 shares in the last quarter. Strait & Sound Wealth Management LLC increased its stake in shares of Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after purchasing an additional 7,095 shares in the last quarter. Catalyst Financial Partners LLC increased its stake in shares of Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares in the last quarter. Finally, Whittier Trust Co. increased its stake in shares of Broadcom by 947.2% in the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock worth $119,000,000 after purchasing an additional 623,983 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

NASDAQ:AVGO opened at $224.70 on Wednesday. The firm has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 195.22, a PEG ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a 1 year low of $109.02 and a 1 year high of $251.88. The business has a 50 day simple moving average of $199.05 and a 200-day simple moving average of $176.63. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period last year, the company earned $0.98 EPS. Equities analysts forecast that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Insider Activity

In other news, Director Check Kian Low sold 48,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a research note on Wednesday, December 11th. Susquehanna increased their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Bank of America increased their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group raised their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $223.54.

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.