Diversified Trust Co Buys 9,571 Shares of Broadcom Inc. (NASDAQ:AVGO)

Diversified Trust Co boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 182,266 shares of the semiconductor manufacturer’s stock after purchasing an additional 9,571 shares during the period. Broadcom comprises approximately 1.0% of Diversified Trust Co’s holdings, making the stock its 18th largest position. Diversified Trust Co’s holdings in Broadcom were worth $42,257,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AVGO. Richardson Financial Services Inc. boosted its stake in Broadcom by 2.4% in the third quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock valued at $415,000 after acquiring an additional 59 shares during the last quarter. Delta Investment Management LLC increased its stake in shares of Broadcom by 14.9% in the 2nd quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock valued at $818,000 after acquiring an additional 66 shares during the last quarter. Raab & Moskowitz Asset Management LLC raised its position in shares of Broadcom by 6.2% in the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 1,156 shares of the semiconductor manufacturer’s stock valued at $1,856,000 after acquiring an additional 67 shares during the period. Decatur Capital Management Inc. boosted its stake in Broadcom by 2.2% during the 2nd quarter. Decatur Capital Management Inc. now owns 3,166 shares of the semiconductor manufacturer’s stock worth $5,083,000 after acquiring an additional 68 shares during the last quarter. Finally, Kathmere Capital Management LLC grew its holdings in Broadcom by 11.3% during the second quarter. Kathmere Capital Management LLC now owns 672 shares of the semiconductor manufacturer’s stock valued at $1,079,000 after purchasing an additional 68 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Broadcom stock traded down $5.31 during midday trading on Tuesday, hitting $231.10. The company’s stock had a trading volume of 10,131,607 shares, compared to its average volume of 25,049,930. The company has a 50-day moving average price of $192.56 and a two-hundred day moving average price of $174.24. Broadcom Inc. has a 1-year low of $105.20 and a 1-year high of $251.88. The company has a market cap of $1.08 trillion, a price-to-earnings ratio of 200.78, a PEG ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, sell-side analysts predict that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.02%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,128 shares of company stock valued at $39,099,840 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AVGO shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Truist Financial raised their price target on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Jefferies Financial Group increased their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Susquehanna upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Finally, Citigroup boosted their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $221.88.

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.