Bay Harbor Wealth Management LLC Acquires 134 Shares of Broadcom Inc. (NASDAQ:AVGO)

Bay Harbor Wealth Management LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 987 shares of the semiconductor manufacturer’s stock after acquiring an additional 134 shares during the period. Bay Harbor Wealth Management LLC’s holdings in Broadcom were worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AMF Tjanstepension AB increased its position in Broadcom by 856.9% in the third quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock worth $175,101,000 after buying an additional 908,585 shares in the last quarter. Alpha Financial Partners LLC purchased a new stake in Broadcom in the 3rd quarter worth approximately $404,000. City Holding Co. raised its stake in Broadcom by 1,464.7% during the 3rd quarter. City Holding Co. now owns 1,330 shares of the semiconductor manufacturer’s stock worth $229,000 after acquiring an additional 1,245 shares during the period. Brookstone Capital Management lifted its holdings in Broadcom by 9.5% during the third quarter. Brookstone Capital Management now owns 38,803 shares of the semiconductor manufacturer’s stock valued at $6,693,000 after purchasing an additional 3,380 shares in the last quarter. Finally, First PREMIER Bank boosted its position in shares of Broadcom by 1,952.6% in the third quarter. First PREMIER Bank now owns 390 shares of the semiconductor manufacturer’s stock worth $67,000 after purchasing an additional 371 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the business’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 value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on AVGO shares. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Piper Sandler boosted their price objective on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a research note on Wednesday, December 11th. UBS Group boosted their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Bank of America upped their price target on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Stock Down 0.3 %

Shares of NASDAQ:AVGO opened at $231.36 on Friday. The firm has a market capitalization of $1.08 trillion, a PE ratio of 188.71, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02. The business has a 50 day simple moving average of $217.07 and a two-hundred day simple moving average of $183.40. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. 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 (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. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the business earned $0.98 EPS. Broadcom’s revenue was up 51.2% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.02%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

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.