Broadcom Inc. (NASDAQ:AVGO) Stock Position Increased by Todd Asset Management LLC

Todd Asset Management LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 26.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,765 shares of the semiconductor manufacturer’s stock after purchasing an additional 16,608 shares during the quarter. Broadcom comprises 2.0% of Todd Asset Management LLC’s investment portfolio, making the stock its 2nd biggest position. Todd Asset Management LLC’s holdings in Broadcom were worth $89,038,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AVGO. Pathway Financial Advisors LLC raised its position in shares of Broadcom by 11.1% during the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after buying an additional 93 shares in the last quarter. Benjamin Edwards Inc. raised its position in shares of Broadcom by 3.0% during the 4th quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock valued at $3,506,000 after buying an additional 91 shares in the last quarter. Stegent Equity Advisors Inc. purchased a new stake in shares of Broadcom during the 4th quarter valued at $271,000. Intrust Bank NA raised its position in shares of Broadcom by 1.7% during the 4th quarter. Intrust Bank NA now owns 6,070 shares of the semiconductor manufacturer’s stock valued at $6,776,000 after buying an additional 99 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC raised its position in shares of Broadcom by 66.6% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock valued at $4,756,000 after buying an additional 1,704 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the transaction, the chief executive officer now owns 168,096 shares in the company, valued at $220,583,976. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 over the last quarter. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AVGO. Benchmark restated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. Cantor Fitzgerald raised their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Barclays raised their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Finally, Mizuho raised their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Stock Up 3.2 %

Shares of NASDAQ AVGO traded up $39.54 during midday trading on Friday, hitting $1,278.11. The stock had a trading volume of 2,489,755 shares, compared to its average volume of 2,435,058. The business’s 50 day moving average is $1,308.66 and its 200-day moving average is $1,147.78. The company has a market cap of $592.30 billion, a P/E ratio of 47.37, a PEG ratio of 2.60 and a beta of 1.25. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.83 earnings per share. As a group, analysts predict that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.64%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

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.