Mayfair Advisory Group LLC Increases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Mayfair Advisory Group LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,401 shares of the semiconductor manufacturer’s stock after buying an additional 92 shares during the period. Mayfair Advisory Group LLC’s holdings in Broadcom were worth $557,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. NCP Inc. lifted its stake in Broadcom by 615.4% in the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after buying an additional 400 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Broadcom by 9.2% in the second quarter. Brown Brothers Harriman & Co. now owns 4,947 shares of the semiconductor manufacturer’s stock worth $7,943,000 after acquiring an additional 416 shares during the last quarter. One Capital Management LLC lifted its position in shares of Broadcom by 331.2% in the second quarter. One Capital Management LLC now owns 2,850 shares of the semiconductor manufacturer’s stock valued at $4,576,000 after acquiring an additional 2,189 shares in the last quarter. WealthPLAN Partners LLC boosted its stake in shares of Broadcom by 12.4% during the second quarter. WealthPLAN Partners LLC now owns 1,351 shares of the semiconductor manufacturer’s stock valued at $2,169,000 after acquiring an additional 149 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. purchased a new stake in Broadcom during the 2nd quarter worth about $426,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $224.70 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm’s fifty day moving average price is $199.05 and its 200 day moving average price is $176.63. The company has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 195.22, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a 12-month low of $109.02 and a 12-month high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The company’s revenue was up 51.2% compared to the same quarter last year. On average, research analysts forecast that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup upped their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price target on shares of Broadcom in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft raised their price objective on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Bank of America lifted their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, Broadcom presently 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.