BluePointe Capital Management LLC Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

BluePointe Capital Management LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,905 shares of the semiconductor manufacturer’s stock after buying an additional 189 shares during the quarter. BluePointe Capital Management LLC’s holdings in Broadcom were worth $1,369,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings in Broadcom by 948.5% during the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after buying an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after acquiring an additional 89,975,941 shares in the last quarter. FMR LLC lifted its stake in Broadcom by 1,121.3% during the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after purchasing an additional 82,998,328 shares during the last quarter. Jennison Associates LLC boosted its holdings in Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Broadcom by 975.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other news, CFO Kirsten M. Spears sold 12,570 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $229.62, for a total value of $2,886,323.40. Following the sale, the chief financial officer now directly owns 325,443 shares in the company, valued at $74,728,221.66. This represents a 3.72 % 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 Broadcom stock in a transaction dated Tuesday, December 24th. The stock was 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 approximately $202,246,926.56. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,738 shares of company stock worth $43,395,200. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVGO. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Jefferies Financial Group raised their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Mizuho decreased their target price on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Susquehanna lifted their target price on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Finally, Piper Sandler boosted their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Performance

Shares of AVGO opened at $195.57 on Thursday. The company has a 50-day moving average of $215.81 and a two-hundred day moving average of $194.61. The stock has a market cap of $919.56 billion, a P/E ratio of 159.52, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

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.