Advisor Partners LLC Buys 1,850 Shares of Broadcom Inc (NASDAQ:AVGO)

Advisor Partners LLC lifted its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 17.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,504 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,850 shares during the period. Advisor Partners LLC’s holdings in Broadcom were worth $3,790,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Ballentine Partners LLC raised its stake in shares of Broadcom by 2.2% during the 4th quarter. Ballentine Partners LLC now owns 1,657 shares of the semiconductor manufacturer’s stock worth $524,000 after purchasing an additional 36 shares in the last quarter. Cresset Asset Management LLC raised its stake in Broadcom by 2.0% in the 2nd quarter. Cresset Asset Management LLC now owns 1,922 shares of the semiconductor manufacturer’s stock valued at $558,000 after acquiring an additional 37 shares during the period. Asset Dedication LLC raised its stake in Broadcom by 1.6% in the 3rd quarter. Asset Dedication LLC now owns 2,457 shares of the semiconductor manufacturer’s stock valued at $673,000 after acquiring an additional 38 shares during the period. Clarius Group LLC raised its stake in Broadcom by 1.5% in the 4th quarter. Clarius Group LLC now owns 2,666 shares of the semiconductor manufacturer’s stock valued at $808,000 after acquiring an additional 39 shares during the period. Finally, Frontier Wealth Management LLC raised its stake in Broadcom by 5.4% in the 2nd quarter. Frontier Wealth Management LLC now owns 804 shares of the semiconductor manufacturer’s stock valued at $231,000 after acquiring an additional 41 shares during the period. Institutional investors own 83.19% of the company’s stock.

A number of equities research analysts recently weighed in on AVGO shares. SunTrust Banks increased their price target on Broadcom from $361.00 to $366.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley upgraded Broadcom from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, November 27th. BidaskClub cut Broadcom from a “buy” rating to a “hold” rating in a research note on Saturday, January 18th. Craig Hallum restated a “buy” rating and issued a $385.00 price target (up previously from $330.00) on shares of Broadcom in a research note on Friday, December 13th. Finally, ValuEngine cut Broadcom from a “hold” rating to a “sell” rating in a research note on Saturday, January 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $334.10.

In other news, CEO Hock E. Tan sold 20,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.56, for a total transaction of $6,291,200.00. Also, CEO Hock E. Tan sold 73,646 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $303.36, for a total value of $22,341,250.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,646 shares of company stock worth $58,355,351. 3.30% of the stock is currently owned by insiders.

Shares of NASDAQ AVGO opened at $319.65 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.31. The stock’s fifty day moving average price is $314.22 and its two-hundred day moving average price is $295.93. Broadcom Inc has a one year low of $250.09 and a one year high of $331.20. The firm has a market cap of $124.46 billion, a price-to-earnings ratio of 49.64, a P/E/G ratio of 1.52 and a beta of 0.90.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $5.39 EPS for the quarter, beating analysts’ consensus estimates of $5.35 by $0.04. Broadcom had a return on equity of 46.16% and a net margin of 12.06%. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.74 billion. During the same period in the prior year, the firm posted $5.85 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Inc will post 19.22 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $3.25 dividend. This represents a $13.00 dividend on an annualized basis and a yield of 4.07%. This is a positive change from Broadcom’s previous quarterly dividend of $2.65. The ex-dividend date of this dividend was Friday, December 20th. Broadcom’s dividend payout ratio is currently 74.67%.

Broadcom Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

Further Reading: Initial Coin Offerings entail a high degree of risk

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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