Broadcom Inc. (NASDAQ:AVGO) is Adell Harriman & Carpenter Inc.’s 2nd Largest Position

Adell Harriman & Carpenter Inc. trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,972 shares of the semiconductor manufacturer’s stock after selling 2,366 shares during the period. Broadcom makes up about 6.0% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 2nd largest holding. Adell Harriman & Carpenter Inc.’s holdings in Broadcom were worth $64,712,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Intrust Bank NA grew its position in shares of Broadcom by 1.7% during the fourth quarter. Intrust Bank NA now owns 6,070 shares of the semiconductor manufacturer’s stock valued at $6,776,000 after purchasing an additional 99 shares in the last quarter. Orca Investment Management LLC raised its holdings in shares of Broadcom by 9.3% in the fourth quarter. Orca Investment Management LLC now owns 2,170 shares of the semiconductor manufacturer’s stock worth $2,422,000 after buying an additional 185 shares during the period. Naviter Wealth LLC grew its holdings in shares of Broadcom by 23.0% in the fourth quarter. Naviter Wealth LLC now owns 2,543 shares of the semiconductor manufacturer’s stock worth $2,839,000 after purchasing an additional 475 shares during the last quarter. Investment House LLC increased its position in shares of Broadcom by 3.1% during the fourth quarter. Investment House LLC now owns 1,138 shares of the semiconductor manufacturer’s stock worth $1,270,000 after acquiring an additional 34 shares during the period. Finally, Guyasuta Investment Advisors Inc. lifted its holdings in shares of Broadcom by 54.2% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 1,024 shares of the semiconductor manufacturer’s stock worth $1,143,000 after buying an additional 360 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Barclays increased 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. Mizuho raised their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Susquehanna lifted their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Stock Down 0.4 %

Shares of AVGO stock traded down $5.45 on Monday, reaching $1,338.62. 1,296,587 shares of the company’s stock traded hands, compared to its average volume of 2,915,589. The company has a market capitalization of $620.34 billion, a P/E ratio of 49.58, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. 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 $1,306.70 and its two-hundred day moving average price is $1,137.84.

Broadcom (NASDAQ:AVGO) last issued 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 firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter last year, the firm earned $9.83 earnings per share. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, equities analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.57%. Broadcom’s payout ratio is 77.84%.

Insider Activity

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justine Page sold 110 shares of Broadcom stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

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.