Investment Research & Advisory Group Inc. Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Investment Research & Advisory Group Inc. raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 148.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92 shares of the semiconductor manufacturer’s stock after buying an additional 55 shares during the period. Investment Research & Advisory Group Inc.’s holdings in Broadcom were worth $103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AVGO. Norges Bank purchased a new position in shares of Broadcom during the fourth quarter worth $2,222,676,000. Moneta Group Investment Advisors LLC raised its stake in shares of Broadcom by 122,794.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock valued at $2,050,420,000 after acquiring an additional 3,664,177 shares in the last quarter. Providence Capital Advisors LLC raised its stake in shares of Broadcom by 49,919.1% in the first quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock valued at $3,799,000 after acquiring an additional 2,432,559 shares in the last quarter. BlackRock Inc. raised its stake in shares of Broadcom by 6.2% in the second quarter. BlackRock Inc. now owns 31,681,688 shares of the semiconductor manufacturer’s stock valued at $27,481,646,000 after acquiring an additional 1,836,795 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Broadcom by 43.9% in the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after acquiring an additional 1,228,755 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

AVGO traded down $20.60 during trading on Wednesday, reaching $1,310.89. The company’s stock had a trading volume of 1,236,296 shares, compared to its average volume of 3,092,221. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The company’s fifty day moving average price is $1,263.22 and its 200-day moving average price is $1,058.13. The company has a market capitalization of $607.49 billion, a price-to-earnings ratio of 48.51, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the previous year, the company earned $9.83 EPS. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, equities analysts forecast that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 21st will be given a dividend of $5.25 per share. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.60%. Broadcom’s payout ratio is 77.84%.

Analyst Ratings Changes

AVGO has been the topic of several analyst reports. Citigroup reiterated a “buy” rating and issued a $1,100.00 price objective on shares of Broadcom in a research note on Monday, December 11th. Summit Insights upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, December 8th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Truist Financial raised their price target on Broadcom from $995.00 to $1,015.00 and gave the company a “buy” rating in a research note on Friday, December 8th. Finally, Barclays initiated coverage on Broadcom in a research note on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,230.18.

Insider Activity

In related news, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the transaction, the chief financial officer now directly owns 26,880 shares in the company, valued at approximately $28,039,603.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the transaction, the chief financial officer now directly owns 26,880 shares in the company, valued at approximately $28,039,603.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. In the last three months, insiders sold 14,810 shares of company stock worth $19,387,692. Company insiders own 2.00% of the company’s stock.

Broadcom 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.