Asset Allocation & Management Company LLC Acquires 2,620 Shares of Broadcom Inc. (NASDAQ:AVGO)

Asset Allocation & Management Company LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 57.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,190 shares of the semiconductor manufacturer’s stock after buying an additional 2,620 shares during the quarter. Broadcom makes up 0.9% of Asset Allocation & Management Company LLC’s portfolio, making the stock its 19th largest position. Asset Allocation & Management Company LLC’s holdings in Broadcom were worth $1,667,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Castleview Partners LLC raised its holdings in shares of Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares during the period. Pin Oak Investment Advisors Inc. raised its holdings in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the period. JDM Financial Group LLC raised its holdings in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the period. Tsfg LLC raised its holdings in shares of Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares during the period. Finally, Cedar Wealth Management LLC raised its holdings in shares of Broadcom by 900.0% in the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after purchasing an additional 216 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Up 0.2 %

Shares of NASDAQ AVGO traded up $0.56 during mid-day trading on Monday, reaching $224.87. 10,313,853 shares of the company’s stock traded hands, compared to its average volume of 24,108,297. The stock has a market cap of $1.05 trillion, a P/E ratio of 195.37, a PEG ratio of 2.15 and a beta of 1.03. The business has a 50-day simple moving average of $196.90 and a 200 day simple moving average of $175.71. Broadcom Inc. has a 1-year low of $109.02 and a 1-year high of $251.88. 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 released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. On average, analysts expect that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 191.87%.

Insider Activity

In related news, insider Charlie B. Kawwas sold 40,000 shares of the company’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 transaction of $9,279,200.00. Following the sale, the insider now owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last quarter. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVGO. UBS Group increased their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Citigroup increased their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. William Blair began coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Evercore ISI increased their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Susquehanna increased their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $223.54.

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.