Charles Schwab Investment Management Inc. Has $7.61 Billion Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Charles Schwab Investment Management Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,808,362 shares of the semiconductor manufacturer’s stock after buying an additional 810,907 shares during the period. Broadcom accounts for 1.4% of Charles Schwab Investment Management Inc.’s holdings, making the stock its 7th biggest holding. Charles Schwab Investment Management Inc.’s holdings in Broadcom were worth $7,606,291,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Central Pacific Bank Trust Division raised its stake in Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after buying an additional 3,707 shares during the last quarter. Wolff Financial Management LLC bought a new position in Broadcom during the fourth quarter worth $244,000. Strait & Sound Wealth Management LLC raised its stake in Broadcom by 829.8% during the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after buying an additional 7,095 shares during the last quarter. Motive Wealth Advisors raised its stake in Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after buying an additional 4,209 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in Broadcom by 969.3% during the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock worth $66,696,000 after buying an additional 350,485 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, Director Diane M. Bryant sold 15,000 shares of the business’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 sale, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were 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 directly owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Down 6.0 %

Broadcom stock opened at $187.37 on Tuesday. The stock has a market cap of $878.27 billion, a PE ratio of 152.83, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The firm’s 50-day simple moving average is $226.54 and its 200 day simple moving average is $192.50.

Broadcom (NASDAQ:AVGO) last announced 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 net margin of 11.43% and a return on equity of 28.00%. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.26%. Broadcom’s payout ratio is currently 191.87%.

Analysts Set New Price Targets

AVGO has been the subject of a number of research reports. UBS Group raised their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Morgan Stanley reduced their price target on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Benchmark restated a “buy” rating and issued a $255.00 price target (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Bank of America raised their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Piper Sandler raised their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $225.04.

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.