Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Increased by Verity & Verity LLC

Verity & Verity LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.4% during the 4th quarter, Holdings Channel reports. The fund owned 301,334 shares of the semiconductor manufacturer’s stock after purchasing an additional 15,433 shares during the period. Broadcom makes up approximately 6.4% of Verity & Verity LLC’s investment portfolio, making the stock its biggest position. Verity & Verity LLC’s holdings in Broadcom were worth $69,861,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. NCP Inc. increased its position in shares of Broadcom by 615.4% during the 2nd 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. AE Wealth Management LLC grew its position in Broadcom by 20.5% in the 2nd quarter. AE Wealth Management LLC now owns 4,681 shares of the semiconductor manufacturer’s stock valued at $7,515,000 after acquiring an additional 797 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in Broadcom by 2,948.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 14,452 shares of the semiconductor manufacturer’s stock valued at $23,204,000 after acquiring an additional 13,978 shares during the last quarter. Kowal Investment Group LLC grew its position in Broadcom by 16.4% in the 2nd quarter. Kowal Investment Group LLC now owns 989 shares of the semiconductor manufacturer’s stock valued at $1,588,000 after acquiring an additional 139 shares during the last quarter. Finally, Circle Wealth Management LLC grew its position in Broadcom by 109.9% in the 2nd quarter. Circle Wealth Management LLC now owns 1,146 shares of the semiconductor manufacturer’s stock valued at $1,840,000 after acquiring an additional 600 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Up 3.5 %

Shares of NASDAQ:AVGO opened at $237.44 on Monday. Broadcom Inc. has a 52-week low of $112.19 and a 52-week high of $251.88. The stock has a market cap of $1.11 trillion, a price-to-earnings ratio of 193.67, a PEG ratio of 2.35 and a beta of 1.03. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The business has a 50-day moving average price of $202.01 and a 200-day moving average price of $178.14.

Broadcom (NASDAQ:AVGO) last announced 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 firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period last year, the business posted $0.98 earnings per share. Equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.99%. 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 192.50%.

Insider Buying and Selling

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares in the company, 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 have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Barclays upped their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday. 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. Bank of America upped their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Mizuho increased their price target on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, Jefferies Financial Group increased their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $225.83.

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.