Private Client Services LLC Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Private Client Services LLC increased its position in Broadcom Inc. (NASDAQ:AVGO) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,269 shares of the semiconductor manufacturer’s stock after purchasing an additional 67 shares during the period. Private Client Services LLC’s holdings in Broadcom were worth $758,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. NCP Inc. lifted its holdings in shares of Broadcom by 615.4% during the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after purchasing an additional 400 shares during the last quarter. LGT Fund Management Co Ltd. grew its stake in shares of Broadcom by 172.1% in the second quarter. LGT Fund Management Co Ltd. now owns 8,313 shares of the semiconductor manufacturer’s stock worth $13,347,000 after acquiring an additional 5,258 shares during the last quarter. Global X Japan Co. Ltd. increased its holdings in shares of Broadcom by 23.5% during the second quarter. Global X Japan Co. Ltd. now owns 26,731 shares of the semiconductor manufacturer’s stock valued at $42,917,000 after acquiring an additional 5,093 shares in the last quarter. Royal London Asset Management Ltd. raised its position in shares of Broadcom by 3.7% in the 2nd quarter. Royal London Asset Management Ltd. now owns 395,603 shares of the semiconductor manufacturer’s stock worth $635,152,000 after purchasing an additional 14,167 shares during the last quarter. Finally, Bright Futures Wealth Management LLC. boosted its stake in Broadcom by 991.2% in the 2nd quarter. Bright Futures Wealth Management LLC. now owns 16,739 shares of the semiconductor manufacturer’s stock worth $26,875,000 after purchasing an additional 15,205 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

NASDAQ:AVGO traded up $0.97 during trading hours on Wednesday, hitting $229.61. 9,739,508 shares of the stock traded hands, compared to its average volume of 25,184,520. The company has a market cap of $1.08 trillion, a price-to-earnings ratio of 199.49, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a 1 year low of $106.26 and a 1 year high of $251.88. The stock has a 50 day moving average price of $193.55 and a 200 day moving average price of $174.58. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share 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 the consensus estimate of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. Sell-side analysts forecast that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.03%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AVGO shares. Barclays lifted their target price on shares of Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Mizuho boosted their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Evercore ISI increased 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. Robert W. Baird upped their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Susquehanna lifted their price objective on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $221.88.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the transaction, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 155,228 shares of company stock valued at $35,643,408. 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.