Apollon Financial LLC Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

Apollon Financial LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,727 shares of the semiconductor manufacturer’s stock after buying an additional 1,138 shares during the period. Broadcom comprises approximately 1.1% of Apollon Financial LLC’s holdings, making the stock its 21st biggest holding. Apollon Financial LLC’s holdings in Broadcom were worth $4,573,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. AMF Tjanstepension AB grew its holdings in Broadcom by 856.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock worth $175,101,000 after acquiring an additional 908,585 shares in the last quarter. Alpha Financial Partners LLC acquired a new position in Broadcom during the 3rd quarter worth $404,000. Wealth Group Ltd. grew its holdings in Broadcom by 900.0% during the 3rd quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock worth $304,000 after acquiring an additional 1,584 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in Broadcom by 967.3% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 6,521 shares of the semiconductor manufacturer’s stock worth $1,125,000 after acquiring an additional 5,910 shares in the last quarter. Finally, Thomasville National Bank grew its holdings in Broadcom by 1,020.2% during the 3rd quarter. Thomasville National Bank now owns 2,330 shares of the semiconductor manufacturer’s stock worth $402,000 after acquiring an additional 2,122 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on AVGO. Citigroup raised their price objective on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Bank of America raised their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. UBS Group boosted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Mizuho boosted their price objective on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Price Performance

AVGO stock opened at $235.04 on Wednesday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The firm has a market cap of $1.10 trillion, a PE ratio of 191.71, a P/E/G ratio of 2.42 and a beta of 1.02. The firm has a 50 day simple moving average of $221.13 and a 200 day simple moving average of $185.16. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.00%. Broadcom’s dividend payout ratio is currently 192.50%.

Insider Activity at Broadcom

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 value of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

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.