Broadcom Inc. (NASDAQ:AVGO) is Aviance Capital Partners LLC’s 3rd Largest Position

Aviance Capital Partners LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,083 shares of the semiconductor manufacturer’s stock after buying an additional 1,182 shares during the period. Broadcom accounts for about 3.6% of Aviance Capital Partners LLC’s investment portfolio, making the stock its 3rd biggest holding. Aviance Capital Partners LLC’s holdings in Broadcom were worth $16,836,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of AVGO. Apollon Wealth Management LLC lifted its position in Broadcom by 28.4% during the fourth quarter. Apollon Wealth Management LLC now owns 17,543 shares of the semiconductor manufacturer’s stock valued at $19,583,000 after acquiring an additional 3,880 shares during the last quarter. Fielder Capital Group LLC acquired a new position in shares of Broadcom during the fourth quarter worth $272,000. Machina Capital S.A.S. lifted its holdings in shares of Broadcom by 126.1% during the 4th quarter. Machina Capital S.A.S. now owns 746 shares of the semiconductor manufacturer’s stock valued at $833,000 after purchasing an additional 416 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in shares of Broadcom by 7.5% in the 4th quarter. Maryland State Retirement & Pension System now owns 33,465 shares of the semiconductor manufacturer’s stock worth $37,355,000 after purchasing an additional 2,344 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in Broadcom by 3.4% during the 4th quarter. Private Advisor Group LLC now owns 29,576 shares of the semiconductor manufacturer’s stock worth $33,015,000 after buying an additional 960 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AVGO. UBS Group raised their price target on Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research note on Monday, April 8th. Cantor Fitzgerald boosted their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Finally, Susquehanna raised their target price on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Stock Performance

AVGO traded up $32.20 on Monday, reaching $1,310.31. The stock had a trading volume of 1,627,126 shares, compared to its average volume of 2,890,694. The business’s 50-day moving average price is $1,308.68 and its two-hundred day moving average price is $1,154.58. The company has a market cap of $607.22 billion, a P/E ratio of 48.57, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25. Broadcom Inc. has a 12-month low of $615.86 and a 12-month high of $1,438.17. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period last year, the company earned $9.83 earnings per share. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. Sell-side analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Insider Activity

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale 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 company’s stock in a transaction 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 completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

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.