Kingdom Financial Group LLC. Increases Holdings in Broadcom Inc. $AVGO

Kingdom Financial Group LLC. grew its position in Broadcom Inc. (NASDAQ:AVGO) by 151.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,737 shares of the semiconductor manufacturer’s stock after buying an additional 2,252 shares during the period. Broadcom makes up about 0.8% of Kingdom Financial Group LLC.’s investment portfolio, making the stock its 24th largest holding. Kingdom Financial Group LLC.’s holdings in Broadcom were worth $1,233,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC purchased a new stake in Broadcom in the second quarter worth approximately $27,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Broadcom in the second quarter worth about $28,000. LGT Financial Advisors LLC bought a new position in shares of Broadcom during the 2nd quarter valued at approximately $31,000. New England Capital Financial Advisors LLC bought a new position in shares of Broadcom in the second quarter worth approximately $31,000. Finally, JCIC Asset Management Inc. bought a new position in Broadcom in the 3rd quarter worth $31,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $347.12, for a total value of $10,413,600.00. Following the completion of the transaction, the insider directly owned 210,573 shares in the company, valued at approximately $73,094,099.76. This represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 70,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $347.30, for a total transaction of $24,311,000.00. Following the completion of the transaction, the chief executive officer owned 132,836 shares in the company, valued at approximately $46,133,942.80. This represents a 34.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 779,901 shares of company stock valued at $284,069,237 in the last three months. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Benchmark boosted their price target on shares of Broadcom from $385.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Robert W. Baird set a $420.00 price target on Broadcom in a report on Friday, December 12th. KeyCorp reissued an “overweight” rating and issued a $500.00 price objective (up previously from $460.00) on shares of Broadcom in a research note on Friday, December 12th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $450.00 price target on shares of Broadcom in a report on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $438.61.

Broadcom Stock Performance

Shares of AVGO stock opened at $333.24 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61. The firm has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 70.01, a price-to-earnings-growth ratio of 1.10 and a beta of 1.21. The business has a fifty day moving average of $356.26 and a 200 day moving average of $336.89.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The firm had revenue of $18.02 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same quarter in the prior year, the business earned $1.42 earnings per share. The company’s revenue was up 28.2% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, December 22nd. This is an increase from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio (DPR) is currently 54.62%.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.