Addenda Capital Inc. Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Addenda Capital Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 15.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 27,090 shares of the semiconductor manufacturer’s stock after buying an additional 3,581 shares during the period. Broadcom accounts for approximately 1.4% of Addenda Capital Inc.’s portfolio, making the stock its 22nd largest holding. Addenda Capital Inc.’s holdings in Broadcom were worth $30,239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AVGO. Rise Advisors LLC raised its stake in Broadcom by 76.5% during the third quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 13 shares during the period. Bollard Group LLC purchased a new position in Broadcom during the second quarter worth approximately $26,000. Macroview Investment Management LLC purchased a new position in Broadcom during the third quarter worth approximately $29,000. BKM Wealth Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at $29,000. Finally, Indiana Trust & Investment Management CO purchased a new position in shares of Broadcom in the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 1.8 %

Shares of NASDAQ:AVGO opened at $1,363.21 on Thursday. The company has a 50 day moving average of $1,284.79 and a 200-day moving average of $1,080.21. The firm has a market cap of $631.74 billion, a P/E ratio of 50.53, a P/E/G ratio of 2.85 and a beta of 1.25. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGOGet Free Report) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same period in the prior year, the business earned $9.83 earnings per share. The business’s quarterly revenue was up 34.2% on a year-over-year basis. As a group, analysts anticipate that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.54%. Broadcom’s dividend payout ratio is currently 77.84%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AVGO shares. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and raised their target price for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Truist Financial raised their price target on shares of Broadcom from $995.00 to $1,015.00 and gave the company a “buy” rating in a report on Friday, December 8th. Summit Insights raised shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, December 8th. Finally, StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Three equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,230.18.

Read Our Latest Stock Report on AVGO

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the transaction, the insider now owns 46,974 shares in the company, valued at approximately $61,957,296.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the transaction, the insider now owns 46,974 shares in the company, valued at approximately $61,957,296.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares in the company, valued at approximately $62,465.85. The disclosure for this sale can be found here. Insiders have sold 22,310 shares of company stock worth $29,405,117 over the last 90 days. 2.00% of the stock is owned by company insiders.

Broadcom Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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