Savant Capital LLC grew its position in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 17.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,126 shares of the semiconductor manufacturer’s stock after acquiring an additional 9,559 shares during the quarter. Savant Capital LLC’s holdings in Broadcom were worth $14,867,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Burns Matteson Capital Management LLC lifted its stake in Broadcom by 34.7% in the 4th quarter. Burns Matteson Capital Management LLC now owns 2,415 shares of the semiconductor manufacturer’s stock worth $560,000 after purchasing an additional 622 shares in the last quarter. Wagner Wealth Management LLC lifted its position in Broadcom by 2.0% during the fourth quarter. Wagner Wealth Management LLC now owns 8,077 shares of the semiconductor manufacturer’s stock worth $1,873,000 after buying an additional 158 shares in the last quarter. Harbour Trust & Investment Management Co boosted its stake in Broadcom by 14.7% during the fourth quarter. Harbour Trust & Investment Management Co now owns 1,852 shares of the semiconductor manufacturer’s stock worth $429,000 after buying an additional 237 shares during the last quarter. Canvas Wealth Advisors LLC boosted its stake in Broadcom by 0.9% during the fourth quarter. Canvas Wealth Advisors LLC now owns 8,165 shares of the semiconductor manufacturer’s stock worth $1,893,000 after buying an additional 74 shares during the last quarter. Finally, RAM Investment Partners LLC grew its holdings in Broadcom by 7.7% in the 4th quarter. RAM Investment Partners LLC now owns 5,293 shares of the semiconductor manufacturer’s stock valued at $1,227,000 after buying an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.
Broadcom Price Performance
Shares of AVGO opened at $236.35 on Thursday. 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 Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The stock has a market cap of $1.11 trillion, a PE ratio of 192.78, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The firm has a fifty day moving average price of $222.47 and a 200 day moving average price of $185.75.
Broadcom Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.00%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 192.50%.
Insider Buying and Selling at Broadcom
In related news, Director Check Kian Low sold 48,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the transaction, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the sale, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. This represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Insiders own 2.00% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Benchmark reaffirmed a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their price objective on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Evercore ISI raised their target price on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $225.04.
View Our Latest Report on Broadcom
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.
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