Tilt Investment Management Holdings PBC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Tilt Investment Management Holdings PBC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,813 shares of the semiconductor manufacturer’s stock, valued at approximately $2,024,000. Broadcom makes up approximately 2.2% of Tilt Investment Management Holdings PBC’s investment portfolio, making the stock its 6th largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Cambridge Trust Co. grew its stake in Broadcom by 0.6% during the 4th quarter. Cambridge Trust Co. now owns 42,460 shares of the semiconductor manufacturer’s stock valued at $47,396,000 after acquiring an additional 261 shares in the last quarter. Oliver Lagore Vanvalin Investment Group grew its stake in Broadcom by 30.6% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 47 shares of the semiconductor manufacturer’s stock valued at $52,000 after acquiring an additional 11 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its stake in shares of Broadcom by 3.8% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 567 shares of the semiconductor manufacturer’s stock valued at $633,000 after buying an additional 21 shares during the period. CapWealth Advisors LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at approximately $236,000. Finally, Delta Financial Advisors LLC grew its stake in shares of Broadcom by 98.6% in the 4th quarter. Delta Financial Advisors LLC now owns 1,396 shares of the semiconductor manufacturer’s stock valued at $1,559,000 after buying an additional 693 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AVGO. Barclays upped their price objective on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday. Susquehanna upped their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Mizuho increased their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, Oppenheimer reissued an “outperform” rating and issued a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Price Performance

AVGO traded down $15.78 during midday trading on Thursday, reaching $1,266.85. 1,242,932 shares of the company’s stock were exchanged, compared to its average volume of 2,931,203. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock has a market capitalization of $587.08 billion, a PE ratio of 47.70, a P/E/G ratio of 2.71 and a beta of 1.25. The business’s 50-day moving average price is $1,307.00 and its 200 day moving average price is $1,115.19. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.83 earnings per share. As a group, equities analysts anticipate that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.66%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the transaction, the insider now directly owns 41,974 shares in the company, valued at $55,257,092.04. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

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.