Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 33.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,364 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,667 shares during the quarter. Broadcom accounts for about 1.2% of Thurston Springer Miller Herd & Titak Inc.’s holdings, making the stock its 11th biggest position. Thurston Springer Miller Herd & Titak Inc.’s holdings in Broadcom were worth $6,112,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Castleview Partners LLC increased its stake in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its holdings in Broadcom by 900.0% in the third 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. JDM Financial Group LLC increased its position in shares of Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares in the last quarter. Tsfg LLC raised its stake in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 204 shares during the last quarter. Finally, Cedar Wealth Management LLC boosted its position in shares of Broadcom by 900.0% in the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after buying an additional 216 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Up 1.5 %

AVGO opened at $228.00 on Thursday. Broadcom Inc. has a 1 year low of $109.02 and a 1 year high of $251.88. The firm has a 50 day moving average price of $199.05 and a 200 day moving average price of $176.63. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market cap of $1.07 trillion, a PE ratio of 198.09, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released 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 company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. Sell-side analysts expect that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 191.87%.

Insider Transactions at Broadcom

In other news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction 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 transaction, the director now directly 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 document filed with the SEC, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction 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 approximately $10,655,296. The trade was a 7.94 % 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 over the last quarter. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Bank of America raised their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Rosenblatt Securities restated a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. Barclays upped their target price on Broadcom from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Benchmark reissued a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, Morgan Stanley upped their price objective on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $223.54.

Broadcom Company 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.