River Street Advisors LLC Has $4.28 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

River Street Advisors LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 18,446 shares of the semiconductor manufacturer’s stock after buying an additional 218 shares during the period. Broadcom accounts for approximately 2.2% of River Street Advisors LLC’s holdings, making the stock its 12th largest position. River Street Advisors LLC’s holdings in Broadcom were worth $4,277,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Castleview Partners LLC lifted its position in shares of 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 purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. raised its stake in shares of 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 during the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Broadcom during the fourth quarter worth approximately $37,000. R Squared Ltd bought a new stake in shares of Broadcom during the fourth quarter worth approximately $39,000. Finally, JDM Financial Group LLC raised its stake in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 172 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price target on shares of Broadcom in a research note on Wednesday, December 11th. Evercore ISI boosted their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. UBS Group upped their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Bank of America upped their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $225.04.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the firm’s 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 completion of the transaction, 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 have sold 191,278 shares of company stock valued at $44,964,800 over the last three months. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $222.43 on Wednesday. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The firm has a market capitalization of $1.04 trillion, a PE ratio of 181.43, a P/E/G ratio of 2.31 and a beta of 1.02. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average price of $214.47 and a two-hundred day moving average price of $182.60.

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

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

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.