Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 8.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 30,072 shares of the semiconductor manufacturer’s stock after buying an additional 2,263 shares during the quarter. Broadcom comprises about 1.8% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 10th largest position. Newbridge Financial Services Group Inc.’s holdings in Broadcom were worth $6,972,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC boosted its stake in shares of Broadcom by 0.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 215,009 shares of the semiconductor manufacturer’s stock valued at $49,848,000 after buying an additional 751 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Broadcom by 26.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 22,465 shares of the semiconductor manufacturer’s stock valued at $5,208,000 after purchasing an additional 4,665 shares in the last quarter. Essex LLC lifted its stake in shares of Broadcom by 8.0% in the fourth quarter. Essex LLC now owns 1,438 shares of the semiconductor manufacturer’s stock valued at $333,000 after purchasing an additional 106 shares during the period. Miller Howard Investments Inc. NY boosted its holdings in Broadcom by 226.5% during the fourth quarter. Miller Howard Investments Inc. NY now owns 6,464 shares of the semiconductor manufacturer’s stock worth $1,499,000 after buying an additional 4,484 shares in the last quarter. Finally, Stephens Inc. AR grew its position in Broadcom by 3.0% during the fourth quarter. Stephens Inc. AR now owns 417,754 shares of the semiconductor manufacturer’s stock worth $96,852,000 after buying an additional 12,281 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Diane M. Bryant sold 15,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the sale, the director now directly owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This represents a 69.90 % 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 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 0.6 %

Shares of AVGO opened at $236.35 on Thursday. The stock has a market cap of $1.11 trillion, a PE ratio of 192.78, a P/E/G ratio of 2.42 and a beta of 1.02. 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 12 month low of $119.76 and a 12 month high of $251.88. The stock’s 50-day moving average is $222.47 and its two-hundred day moving average is $185.75.

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

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.00%. Broadcom’s payout ratio is currently 192.50%.

Analyst Ratings Changes

Several brokerages have recently commented on AVGO. Evercore ISI boosted their price target on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Bank of America boosted their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Morgan Stanley dropped their price target on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Benchmark reissued a “buy” rating and issued a $255.00 price objective (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Finally, Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average target price of $225.04.

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.