Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Altfest L J & Co. Inc.

Altfest L J & Co. Inc. grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 38.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,450 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,272 shares during the period. Altfest L J & Co. Inc.’s holdings in Broadcom were worth $2,587,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AVGO. GAMMA Investing LLC boosted its stake in Broadcom by 18,179.3% during the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer’s stock valued at $2,892,548,000 after purchasing an additional 17,181,652 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Broadcom by 46.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer’s stock valued at $11,018,089,000 after buying an additional 15,171,849 shares during the period. Northern Trust Corp lifted its holdings in shares of Broadcom by 12.0% in the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer’s stock valued at $11,380,411,000 after buying an additional 5,258,925 shares during the period. Goldman Sachs Group Inc. boosted its stake in Broadcom by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer’s stock valued at $5,333,384,000 after buying an additional 4,550,647 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Broadcom by 36.9% during the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer’s stock worth $2,638,512,000 after acquiring an additional 4,245,345 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Gayla J. Delly sold 3,000 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total transaction of $795,390.00. Following the transaction, the director owned 33,352 shares in the company, valued at $8,842,615.76. This represents a 8.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 800 shares of the firm’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $274.30, for a total transaction of $219,440.00. Following the transaction, the director owned 24,582 shares in the company, valued at $6,742,842.60. This represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 830,516 shares of company stock valued at $217,224,641. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Truist Financial set a $295.00 price target on shares of Broadcom and gave the company a “buy” rating in a report on Friday, June 6th. Hsbc Global Res raised shares of Broadcom from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research report on Friday, June 6th. Benchmark upped their price target on Broadcom from $255.00 to $315.00 and gave the company a “buy” rating in a report on Friday, June 6th. Finally, Wells Fargo & Company raised their price objective on Broadcom from $230.00 to $255.00 and gave the stock an “equal weight” rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $294.92.

Broadcom Price Performance

AVGO opened at $301.67 on Thursday. The stock has a fifty day moving average price of $270.33 and a 200 day moving average price of $225.92. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 1 year low of $134.90 and a 1 year high of $306.95. The stock has a market cap of $1.42 trillion, a price-to-earnings ratio of 112.99, a PEG ratio of 2.08 and a beta of 1.15.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm’s revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the company earned $10.96 EPS. Analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. Broadcom’s payout ratio is 88.39%.

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.