Grandview Asset Management LLC Increases Stake in Broadcom Inc. (NASDAQ:AVGO)

Grandview Asset Management LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,039 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,230 shares during the period. Broadcom accounts for 2.8% of Grandview Asset Management LLC’s investment portfolio, making the stock its 8th biggest position. Grandview Asset Management LLC’s holdings in Broadcom were worth $7,660,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. TPG Financial Advisors LLC bought a new stake in shares of Broadcom during the 4th quarter valued at about $202,000. Ellenbecker Investment Group boosted its stake in shares of Broadcom by 11.5% during the 4th quarter. Ellenbecker Investment Group now owns 1,871 shares of the semiconductor manufacturer’s stock valued at $434,000 after purchasing an additional 193 shares in the last quarter. Traveka Wealth LLC boosted its stake in shares of Broadcom by 16.8% during the 4th quarter. Traveka Wealth LLC now owns 6,800 shares of the semiconductor manufacturer’s stock valued at $1,577,000 after purchasing an additional 979 shares in the last quarter. PFW Advisors LLC bought a new stake in shares of Broadcom during the 4th quarter valued at about $1,226,000. Finally, Marion Wealth Management boosted its stake in shares of Broadcom by 51.8% during the 4th quarter. Marion Wealth Management now owns 2,930 shares of the semiconductor manufacturer’s stock valued at $679,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 0.3 %

NASDAQ:AVGO opened at $224.70 on Wednesday. The company’s 50 day moving average price is $199.05 and its 200-day moving average price is $176.63. Broadcom Inc. has a 52 week low of $109.02 and a 52 week high of $251.88. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The stock has a market cap of $1.05 trillion, a price-to-earnings ratio of 195.22, a PEG ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 earnings per share. On average, equities research analysts forecast that Broadcom Inc. will post 3.79 earnings per share for the current fiscal 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 given a dividend of $0.59 per share. This is an increase 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 1.05%. Broadcom’s dividend payout ratio is 191.87%.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the transaction, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 over the last quarter. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. William Blair initiated coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Evercore ISI upped their price objective on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $223.54.

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.