Everence Capital Management Inc. Purchases 1,920 Shares of Broadcom Inc. (NASDAQ:AVGO)

Everence Capital Management Inc. boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,410 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,920 shares during the period. Broadcom comprises approximately 1.8% of Everence Capital Management Inc.’s holdings, making the stock its 10th largest position. Everence Capital Management Inc.’s holdings in Broadcom were worth $28,380,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Castleview Partners LLC boosted its stake in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. lifted its holdings in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the period. JDM Financial Group LLC boosted its position in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Tsfg LLC grew its stake in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares during the period. Finally, Cedar Wealth Management LLC increased its holdings in shares of Broadcom by 900.0% in the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after purchasing an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, Director Harry L. You sold 6,540 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the sale, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,408 shares of company stock valued at $33,412,228 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Mizuho boosted their price target on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley raised their price objective on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Jefferies Financial Group boosted their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Broadcom from $190.00 to $240.00 and gave the company 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.88.

Broadcom Trading Up 0.5 %

Shares of AVGO stock traded up $1.15 during trading hours on Friday, hitting $233.13. 9,571,743 shares of the company were exchanged, compared to its average volume of 20,117,359. The firm has a fifty day moving average of $190.08 and a 200 day moving average of $173.46. 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 Inc. has a 1 year low of $104.15 and a 1 year high of $251.88. The firm has a market cap of $1.09 trillion, a PE ratio of 202.55, a PEG ratio of 2.15 and a beta of 1.13.

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

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.01%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is 191.87%.

About Broadcom

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.