Garrison Asset Management LLC Has $8.18 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Garrison Asset Management LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,325 shares of the semiconductor manufacturer’s stock after buying an additional 253 shares during the quarter. Broadcom accounts for approximately 4.5% of Garrison Asset Management LLC’s holdings, making the stock its biggest holding. Garrison Asset Management LLC’s holdings in Broadcom were worth $8,176,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. PSI Advisors LLC lifted its holdings in shares of Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 10 shares during the period. Macroview Investment Management LLC bought a new stake in Broadcom during the third quarter worth about $29,000. BKM Wealth Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth approximately $29,000. CKW Financial Group acquired a new position in shares of Broadcom in the 4th quarter worth approximately $30,000. Finally, Rise Advisors LLC grew its position in Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after acquiring an additional 10 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the sale, the chief executive officer now owns 168,096 shares in the company, valued at $220,583,976. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 over the last ninety days. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AVGO has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research note on Monday, April 8th. Barclays boosted their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. UBS Group upped their target price on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, Oppenheimer restated an “outperform” rating and issued a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Stock Up 1.6 %

AVGO traded up $19.75 during trading hours on Monday, hitting $1,224.46. 2,449,709 shares of the company’s stock were exchanged, compared to its average volume of 2,952,586. The stock has a market cap of $567.44 billion, a price-to-earnings ratio of 44.78, a PEG ratio of 2.46 and a beta of 1.25. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The stock’s 50-day moving average is $1,305.11 and its two-hundred day moving average is $1,122.97. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the business posted $9.83 EPS. Sell-side analysts predict that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Broadcom Company 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.