Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Boosted by Blue Chip Partners LLC

Blue Chip Partners LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,207 shares of the semiconductor manufacturer’s stock after purchasing an additional 284 shares during the period. Broadcom accounts for about 2.9% of Blue Chip Partners LLC’s holdings, making the stock its 7th biggest position. Blue Chip Partners LLC’s holdings in Broadcom were worth $28,137,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. BetterWealth LLC raised its stake in Broadcom by 1.5% during the 4th quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock valued at $672,000 after acquiring an additional 9 shares in the last quarter. Sargent Investment Group LLC raised its stake in shares of Broadcom by 1.6% in the 4th quarter. Sargent Investment Group LLC now owns 557 shares of the semiconductor manufacturer’s stock worth $622,000 after buying an additional 9 shares in the last quarter. Rise Advisors LLC raised its stake in shares of Broadcom by 33.3% in the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after buying an additional 10 shares in the last quarter. CX Institutional raised its stake in shares of Broadcom by 0.8% in the 4th quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock worth $1,439,000 after buying an additional 10 shares in the last quarter. Finally, Cascade Investment Group Inc. raised its stake in shares of Broadcom by 1.7% in the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock worth $680,000 after buying an additional 10 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. 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 quarter. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 3.8 %

AVGO traded up $49.65 during trading on Friday, reaching $1,344.07. 2,409,983 shares of the stock traded hands, compared to its average volume of 2,322,994. The stock has a market cap of $622.87 billion, a price-to-earnings ratio of 49.82, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock’s 50-day simple moving average is $1,306.70 and its two-hundred day simple moving average is $1,137.84.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter in the previous year, the firm earned $9.83 earnings per share. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.56%. Broadcom’s dividend payout ratio is currently 77.84%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AVGO shares. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. Susquehanna lifted their target price on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Mizuho lifted their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

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.