Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Lebenthal Global Advisors LLC

Lebenthal Global Advisors LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,891 shares of the semiconductor manufacturer’s stock after purchasing an additional 175 shares during the period. Lebenthal Global Advisors LLC’s holdings in Broadcom were worth $670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Castleview Partners LLC boosted its holdings in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. lifted its position in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in Broadcom during the fourth quarter worth $37,000. JDM Financial Group LLC increased its stake 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 worth $32,000 after acquiring an additional 172 shares during the last quarter. Finally, Tsfg LLC raised its holdings in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 204 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the 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 sale, the insider now owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the sale, the chief executive officer now owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last ninety days. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AVGO shares. JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Susquehanna raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft upped their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. TD Cowen lifted their target price on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Stock Up 4.5 %

AVGO opened at $215.66 on Friday. The business has a 50 day moving average price of $211.24 and a two-hundred day moving average price of $181.27. Broadcom Inc. has a 52 week low of $117.43 and a 52 week high of $251.88. The company has a market cap of $1.01 trillion, a PE ratio of 175.91, a P/E/G ratio of 2.52 and a beta of 1.03. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 earnings per share. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.09%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is 191.87%.

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.