Charter Oak Capital Management LLC Buys 392 Shares of Broadcom Inc. (NASDAQ:AVGO)

Charter Oak Capital Management LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 9.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,371 shares of the semiconductor manufacturer’s stock after purchasing an additional 392 shares during the period. Charter Oak Capital Management LLC’s holdings in Broadcom were worth $1,013,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. YHB Investment Advisors Inc. lifted its stake in Broadcom by 59.2% in the fourth quarter. YHB Investment Advisors Inc. now owns 17,414 shares of the semiconductor manufacturer’s stock worth $4,037,000 after acquiring an additional 6,477 shares during the period. Fortitude Advisory Group L.L.C. raised its holdings in shares of Broadcom by 1.8% in the 4th quarter. Fortitude Advisory Group L.L.C. now owns 11,809 shares of the semiconductor manufacturer’s stock valued at $2,738,000 after purchasing an additional 214 shares in the last quarter. Buffington Mohr McNeal lifted its position in shares of Broadcom by 10.0% in the 4th quarter. Buffington Mohr McNeal now owns 35,816 shares of the semiconductor manufacturer’s stock worth $8,304,000 after purchasing an additional 3,253 shares during the period. Mattern Wealth Management LLC boosted its stake in shares of Broadcom by 48.1% during the fourth quarter. Mattern Wealth Management LLC now owns 29,579 shares of the semiconductor manufacturer’s stock valued at $6,858,000 after purchasing an additional 9,609 shares in the last quarter. Finally, Eaton Cambridge Inc. purchased a new position in Broadcom during the fourth quarter valued at approximately $220,000. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Truist Financial upped their target price on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Barclays raised their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Mizuho boosted their target price on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Jefferies Financial Group raised their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Broadcom Stock Up 4.5 %

Shares of AVGO opened at $215.66 on Friday. The company has a market capitalization of $1.01 trillion, a price-to-earnings ratio of 175.91, a PEG ratio of 2.52 and a beta of 1.03. Broadcom Inc. has a 52 week low of $117.43 and a 52 week high of $251.88. The stock’s 50-day moving average price is $211.24 and its 200-day moving average price is $181.27. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion for 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 business’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. On average, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.09%. Broadcom’s payout ratio is presently 191.87%.

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.