Geneva Partners LLC Has $7.65 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Geneva Partners LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 8.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,850 shares of the semiconductor manufacturer’s stock after buying an additional 509 shares during the period. Broadcom accounts for 4.2% of Geneva Partners LLC’s portfolio, making the stock its 4th biggest holding. Geneva Partners LLC’s holdings in Broadcom were worth $7,647,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BKM Wealth Management LLC bought a new position in Broadcom in the 4th quarter valued at about $29,000. CKW Financial Group acquired a new stake in Broadcom in the 4th quarter valued at about $30,000. Macroview Investment Management LLC acquired a new stake in Broadcom in the 3rd quarter valued at about $29,000. PrairieView Partners LLC lifted its holdings in Broadcom by 178.6% in the 4th quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock valued at $44,000 after acquiring an additional 25 shares during the last quarter. Finally, Rise Advisors LLC lifted its holdings in Broadcom by 33.3% in the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after acquiring an additional 10 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now owns 45 shares in the company, valued at approximately $62,465.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

Broadcom Stock Down 4.3 %

Shares of AVGO traded down $54.28 during trading hours on Friday, reaching $1,204.71. The company’s stock had a trading volume of 4,477,530 shares, compared to its average volume of 2,968,402. The firm has a market cap of $558.29 billion, a price-to-earnings ratio of 44.65, a P/E/G ratio of 2.62 and a beta of 1.25. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company has a 50 day moving average of $1,305.11 and a two-hundred day moving average of $1,118.75.

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

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.74%. Broadcom’s dividend payout ratio is currently 77.84%.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research analyst reports. Mizuho upped their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. UBS Group upped their price target on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

About Broadcom

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.