Crestwood Advisors Group LLC Acquires 14,542 Shares of Broadcom Inc. (NASDAQ:AVGO)

Crestwood Advisors Group LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 8.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 180,542 shares of the semiconductor manufacturer’s stock after acquiring an additional 14,542 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Broadcom were worth $41,857,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. State Street Corp increased its stake in Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after acquiring an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC increased its stake in Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after acquiring an additional 89,975,941 shares during the last quarter. FMR LLC increased its stake in Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after acquiring an additional 82,998,328 shares during the last quarter. Jennison Associates LLC increased its stake 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 acquiring an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Broadcom by 975.4% in 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 acquiring an additional 30,674,902 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the 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 completion of the transaction, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 2.6 %

NASDAQ AVGO opened at $202.54 on Wednesday. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a 50 day simple moving average of $228.49 and a two-hundred day simple moving average of $191.31. The stock has a market cap of $949.38 billion, a P/E ratio of 165.21, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last announced its earnings results 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. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The business’s revenue was up 51.2% compared to the same quarter last year. On average, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.17%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 191.87%.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research analyst reports. UBS Group upped their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Citigroup upped their price objective on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Mizuho upped their price objective on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Piper Sandler upped their price objective on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average price target 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.