Broadcom Inc. (NASDAQ:AVGO) Holdings Raised by National Pension Service

National Pension Service raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,593,557 shares of the semiconductor manufacturer’s stock after purchasing an additional 320,400 shares during the quarter. Broadcom accounts for approximately 1.9% of National Pension Service’s investment portfolio, making the stock its 10th biggest holding. National Pension Service owned 0.18% of Broadcom worth $1,992,330,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC purchased a new position in shares of Broadcom in the 4th quarter valued at about $26,000. Pin Oak Investment Advisors Inc. grew its holdings in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $37,000. R Squared Ltd purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $39,000. Finally, JDM Financial Group LLC raised its stake in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 172 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the transaction, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Morgan Stanley dropped their price target on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Truist Financial lifted their price target on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Barclays lifted their price target on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, TD Cowen lifted their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Broadcom Stock Performance

Broadcom stock opened at $197.80 on Friday. The firm has a 50 day simple moving average of $227.87 and a 200-day simple moving average of $191.51. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market cap of $927.16 billion, a price-to-earnings ratio of 161.34, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the company posted $0.98 EPS. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.19%. Broadcom’s payout ratio is presently 191.87%.

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.