StoneX Group Inc. Purchases 4,008 Shares of Broadcom Inc. (NASDAQ:AVGO)

StoneX Group Inc. grew its position in Broadcom Inc. (NASDAQ:AVGO) by 13.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,914 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,008 shares during the period. StoneX Group Inc.’s holdings in Broadcom were worth $8,094,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Howard Capital Management Group LLC boosted its position in Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after acquiring an additional 2,908 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Broadcom by 1,019.4% in the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after purchasing an additional 6,540,800 shares in the last quarter. Edgestream Partners L.P. boosted its holdings in Broadcom by 2,491.7% during the third quarter. Edgestream Partners L.P. now owns 14,047 shares of the semiconductor manufacturer’s stock worth $2,423,000 after purchasing an additional 13,505 shares during the last quarter. Cobblestone Capital Advisors LLC NY grew its position in Broadcom by 993.1% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 5,225 shares of the semiconductor manufacturer’s stock valued at $901,000 after purchasing an additional 4,747 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in Broadcom in the 3rd quarter valued at $5,414,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Evercore ISI raised their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Mizuho decreased their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Jefferies Financial Group upped their price objective on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. TD Cowen raised their target price on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note 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 investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Trading Down 1.0 %

Shares of NASDAQ:AVGO opened at $167.43 on Tuesday. The business’s 50 day simple moving average is $208.08 and its 200 day simple moving average is $196.54. 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. The company has a market capitalization of $787.25 billion, a P/E ratio of 136.57, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Insider Activity at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the business’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 transaction of $11,296,800.00. Following the completion of the transaction, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 785,976 shares of company stock valued at $147,912,102 over the last quarter. 2.00% of the stock is owned by corporate insiders.

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.