Secure Asset Management LLC Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Secure Asset Management LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 16.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,571 shares of the semiconductor manufacturer’s stock after buying an additional 778 shares during the period. Secure Asset Management LLC’s holdings in Broadcom were worth $1,292,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Dakota Community Bank & Trust NA grew its holdings in Broadcom by 2.7% in the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after purchasing an additional 45 shares during the last quarter. Defined Wealth Management LLC grew its stake in Broadcom by 0.4% in the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after acquiring an additional 47 shares during the last quarter. Integrated Investment Consultants LLC raised its position in Broadcom by 0.9% during the fourth quarter. Integrated Investment Consultants LLC now owns 5,392 shares of the semiconductor manufacturer’s stock worth $1,250,000 after acquiring an additional 47 shares during the last quarter. Kades & Cheifetz LLC raised its position in Broadcom by 0.8% during the fourth quarter. Kades & Cheifetz LLC now owns 6,623 shares of the semiconductor manufacturer’s stock worth $1,536,000 after acquiring an additional 51 shares during the last quarter. Finally, Sivia Capital Partners LLC grew its position in shares of Broadcom by 0.5% in the fourth quarter. Sivia Capital Partners LLC now owns 9,584 shares of the semiconductor manufacturer’s stock valued at $2,222,000 after purchasing an additional 52 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, 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 transaction of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Up 1.8 %

Shares of NASDAQ AVGO opened at $244.70 on Friday. The stock has a fifty day moving average price of $208.80 and a 200 day moving average price of $180.62. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12-month low of $117.43 and a 12-month high of $251.88. The company has a market cap of $1.15 trillion, a P/E ratio of 199.59, a P/E/G ratio of 2.52 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its earnings results 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 during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. Research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal 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 dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is presently 192.50%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVGO. Morgan Stanley lifted their price objective on Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Mizuho increased their price objective on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Evercore ISI boosted their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.83.

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.