Schnieders Capital Management LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 611 shares of the semiconductor manufacturer’s stock, valued at approximately $682,000.
Several other hedge funds have also recently added to or reduced their stakes in AVGO. Fountainhead AM LLC acquired a new stake in shares of Broadcom during the 4th quarter worth about $1,161,000. F M Investments LLC boosted its stake in shares of Broadcom by 9.7% during the 4th quarter. F M Investments LLC now owns 681 shares of the semiconductor manufacturer’s stock worth $760,000 after purchasing an additional 60 shares during the last quarter. Yousif Capital Management LLC boosted its stake in shares of Broadcom by 3.4% during the 4th quarter. Yousif Capital Management LLC now owns 60,786 shares of the semiconductor manufacturer’s stock worth $67,852,000 after purchasing an additional 2,027 shares during the last quarter. Weatherly Asset Management L. P. boosted its stake in shares of Broadcom by 15.9% during the 4th quarter. Weatherly Asset Management L. P. now owns 393 shares of the semiconductor manufacturer’s stock worth $439,000 after purchasing an additional 54 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Broadcom in the fourth quarter worth approximately $4,686,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Broadcom Stock Performance
Shares of AVGO traded up $24.73 during midday trading on Tuesday, hitting $1,249.19. 2,198,693 shares of the stock traded hands, compared to its average volume of 2,952,703. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The firm has a market capitalization of $578.90 billion, a PE ratio of 46.30, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The business’s 50 day moving average price is $1,304.25 and its two-hundred day moving average price is $1,128.64.
Broadcom Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.68%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.
Insider Buying and Selling
In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now directly owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the sale, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 over the last 90 days. 2.00% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several research firms recently issued reports on AVGO. Evercore ISI began coverage on shares of Broadcom in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 target price on the stock. Susquehanna raised their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Benchmark reaffirmed a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.
Check Out Our Latest Research Report on AVGO
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.
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