Westmount Partners LLC Acquires 290 Shares of Broadcom Inc. (NASDAQ:AVGO)

Westmount Partners LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 0.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 48,419 shares of the semiconductor manufacturer’s stock after buying an additional 290 shares during the quarter. Broadcom accounts for approximately 3.4% of Westmount Partners LLC’s portfolio, making the stock its 5th biggest position. Westmount Partners LLC’s holdings in Broadcom were worth $11,225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Richardson Financial Services Inc. increased its position in shares of Broadcom by 2.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock valued at $415,000 after purchasing an additional 59 shares during the last quarter. Michael S. Ryan Inc. grew its position in Broadcom by 0.7% during the fourth quarter. Michael S. Ryan Inc. now owns 8,959 shares of the semiconductor manufacturer’s stock valued at $2,077,000 after buying an additional 61 shares during the period. Delta Investment Management LLC raised its position in Broadcom by 14.9% in the second quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock worth $818,000 after acquiring an additional 66 shares during the period. Raab & Moskowitz Asset Management LLC boosted its stake in Broadcom by 6.2% in the second quarter. Raab & Moskowitz Asset Management LLC now owns 1,156 shares of the semiconductor manufacturer’s stock valued at $1,856,000 after acquiring an additional 67 shares during the last quarter. Finally, Rise Advisors LLC grew its position in shares of Broadcom by 3.0% during the 4th quarter. Rise Advisors LLC now owns 2,335 shares of the semiconductor manufacturer’s stock valued at $541,000 after acquiring an additional 67 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now directly owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction dated 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 transaction, the insider now owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Up 0.7 %

Shares of AVGO traded up $1.54 on Monday, reaching $225.85. The stock had a trading volume of 12,842,835 shares, compared to its average volume of 24,496,447. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 12-month low of $109.02 and a 12-month high of $251.88. The firm has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 196.22, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The company has a 50-day simple moving average of $196.90 and a 200-day simple moving average of $175.71.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 EPS. Sell-side analysts predict that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.04%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent research reports. Cantor Fitzgerald raised their target price on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Morgan Stanley upped their price objective on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, December 20th. JPMorgan Chase & Co. lifted their price target on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Benchmark reiterated a “buy” rating and set a $255.00 price target (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 target price on shares of Broadcom in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $223.54.

Get Our Latest Report on AVGO

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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