Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Boosted by Waverton Investment Management Ltd

Waverton Investment Management Ltd raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 69.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,180 shares of the semiconductor manufacturer’s stock after purchasing an additional 890 shares during the quarter. Waverton Investment Management Ltd’s holdings in Broadcom were worth $505,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. boosted its stake in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Broadcom during the 4th quarter worth $37,000. R Squared Ltd bought a new stake in shares of Broadcom during the 4th quarter worth $39,000. JDM Financial Group LLC boosted its stake in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares in the last quarter. Finally, Asset Planning Inc bought a new stake in shares of Broadcom during the 4th quarter worth $46,000. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AVGO shares. Mizuho raised their price objective on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Evercore ISI raised their price objective on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Barclays raised their price objective on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Citigroup increased their target price on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Three investment 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Insiders Place Their Bets

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 over the last three months. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $202.54 on Wednesday. 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 1 year low of $119.76 and a 1 year high of $251.88. The business has a fifty day simple moving average of $228.49 and a 200 day simple moving average of $191.31. The firm has a market cap of $949.38 billion, a price-to-earnings ratio of 165.21, a P/E/G ratio of 2.29 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last posted its earnings results 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 firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.17%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 191.87%.

Broadcom Company 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.