Astoria Portfolio Advisors LLC. Increases Stake in Broadcom Inc. (NASDAQ:AVGO)

Astoria Portfolio Advisors LLC. boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,576 shares of the semiconductor manufacturer’s stock after purchasing an additional 566 shares during the quarter. Astoria Portfolio Advisors LLC.’s holdings in Broadcom were worth $1,478,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Castleview Partners LLC boosted its position 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 worth $25,000 after buying an additional 134 shares during the period. Pin Oak Investment Advisors Inc. boosted its holdings in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares during the period. JDM Financial Group LLC boosted its holdings in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $37,000. Finally, Tsfg LLC raised its stake in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AVGO. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Mizuho increased their price target on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Benchmark restated a “buy” rating and set a $255.00 price objective (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Morgan Stanley increased their target price on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, Jefferies Financial Group lifted their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.83.

Broadcom Stock Up 3.5 %

Shares of Broadcom stock opened at $237.44 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $112.19 and a 1-year high of $251.88. The business’s fifty day moving average price is $202.01 and its two-hundred day moving average price is $178.14. The company has a market capitalization of $1.11 trillion, a P/E ratio of 193.67, a PEG ratio of 2.35 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data 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 business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 earnings per share. As a group, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is currently 192.50%.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 over the last three months. 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.