Broadcom Inc. (NASDAQ:AVGO) Stock Position Raised by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,165 shares of the semiconductor manufacturer’s stock after purchasing an additional 74 shares during the period. Canvas Wealth Advisors LLC’s holdings in Broadcom were worth $1,893,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AVGO. State Street Corp boosted its stake in shares of Broadcom by 948.5% during the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after buying an additional 166,844,263 shares during the period. Geode Capital Management LLC boosted its position in Broadcom by 976.6% during the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the last quarter. FMR LLC grew its stake in Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after purchasing an additional 82,998,328 shares in the last quarter. Jennison Associates LLC increased its position in Broadcom by 842.4% in the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after purchasing an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Broadcom by 975.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after purchasing an additional 30,674,902 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley lowered their price target on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Benchmark reissued a “buy” rating and issued a $255.00 target price (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Robert W. Baird raised their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Bank of America upped their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Barclays raised their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Stock Up 0.6 %

AVGO stock opened at $236.35 on Thursday. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. 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 company has a market cap of $1.11 trillion, a PE ratio of 192.78, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The business’s 50-day simple moving average is $222.47 and its 200 day simple moving average is $185.75.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for 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%. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 earnings per share. On average, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share 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 given a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is 192.50%.

Insider Activity

In other news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Broadcom Company 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.