Broadcom Inc. (NASDAQ:AVGO) Holdings Boosted by Addison Advisors LLC

Addison Advisors LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 644.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 685 shares of the semiconductor manufacturer’s stock after purchasing an additional 593 shares during the period. Addison Advisors LLC’s holdings in Broadcom were worth $765,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northern Trust Corp raised its holdings in shares of Broadcom by 2.1% during the third quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock worth $3,866,684,000 after acquiring an additional 93,615 shares in the last quarter. Wellington Management Group LLP raised its holdings in Broadcom by 43.9% during the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after buying an additional 1,228,755 shares in the last quarter. FMR LLC raised its holdings in Broadcom by 16.7% during the third quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock valued at $3,338,203,000 after buying an additional 573,826 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Broadcom by 113,495.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after buying an additional 3,324,288 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Broadcom by 19.1% during the 3rd quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after acquiring an additional 514,120 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 at this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the transaction, the insider now directly owns 46,974 shares in the company, valued at $61,957,296.78. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Up 3.8 %

AVGO stock traded up $49.65 during mid-day trading on Friday, reaching $1,344.07. The company’s stock had a trading volume of 2,409,983 shares, compared to its average volume of 2,322,994. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The business’s 50 day moving average price is $1,306.70 and its 200 day moving average price is $1,135.99. The company 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 (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the previous year, the business posted $9.83 EPS. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, equities research 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. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.56%. Broadcom’s dividend payout ratio is currently 77.84%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AVGO shares. UBS Group boosted their price objective on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Mizuho lifted their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Rosenblatt Securities reissued a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Finally, Barclays raised their target price on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

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.