Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Abbrea Capital LLC

Abbrea Capital LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,385 shares of the semiconductor manufacturer’s stock after purchasing an additional 37 shares during the quarter. Abbrea Capital LLC’s holdings in Broadcom were worth $2,662,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AVGO. PSI Advisors LLC boosted its holdings in Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares during the last quarter. Macroview Investment Management LLC acquired a new position in Broadcom in the 3rd quarter valued at about $29,000. BKM Wealth Management LLC acquired a new position in Broadcom in the 4th quarter valued at about $29,000. CKW Financial Group acquired a new position in Broadcom in the 4th quarter valued at about $30,000. Finally, Bfsg LLC acquired a new position in Broadcom in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AVGO shares. UBS Group boosted their target price on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Barclays boosted their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Evercore ISI started coverage on shares of Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price on the stock. Finally, TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Buying and Selling at Broadcom

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 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 completion of the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of the sale, the insider now directly owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The disclosure for this sale can be found here. In the last three months, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Shares of Broadcom stock traded up $49.65 during trading on Friday, hitting $1,344.07. 2,408,383 shares of the stock were exchanged, compared to its average volume of 2,935,563. The stock’s fifty day moving average is $1,304.73 and its 200 day moving average is $1,130.68. The stock has a market cap of $622.87 billion, a PE ratio of 49.65, a P/E/G ratio of 2.56 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a 12 month low of $601.29 and a 12 month 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, beating analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.83 EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

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.