141 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by Bellevue Asset Management LLC

Bellevue Asset Management LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 141 shares of the semiconductor manufacturer’s stock, valued at approximately $33,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Canton Hathaway LLC bought a new position in shares of Broadcom in the fourth quarter worth $26,000. Pin Oak Investment Advisors Inc. grew its stake in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Synergy Investment Management LLC bought a new position in shares of Broadcom in the fourth quarter worth $35,000. Retirement Wealth Solutions LLC bought a new position in shares of Broadcom in the fourth quarter worth $37,000. Finally, R Squared Ltd bought a new position in shares of Broadcom in the fourth quarter worth $39,000. 76.43% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on AVGO shares. Citigroup increased their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft increased their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Barclays raised their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Bank of America raised their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Trading Up 2.2 %

AVGO stock opened at $191.58 on Thursday. The company has a market cap of $898.00 billion, a P/E ratio of 156.27, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The business has a fifty day moving average of $224.53 and a 200-day moving average of $192.64.

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

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 191.87%.

Broadcom 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.