American Financial Advisors LLC Acquires New Holdings in Broadcom Inc. (NASDAQ:AVGO)

American Financial Advisors LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 1,380 shares of the semiconductor manufacturer’s stock, valued at approximately $320,000.

A number of other institutional investors have also recently bought and sold shares of the stock. State Street Corp lifted its position in Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after acquiring an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the period. FMR LLC lifted its holdings in shares of Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after purchasing an additional 82,998,328 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after buying an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after buying an additional 30,674,902 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on AVGO shares. UBS Group boosted their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Citigroup raised their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird boosted their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Morgan Stanley decreased their price objective on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Stock Down 1.9 %

Shares of AVGO opened at $228.53 on Wednesday. The firm has a 50 day simple moving average of $227.24 and a two-hundred day simple moving average of $188.12. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a market cap of $1.07 trillion, a P/E ratio of 186.40, a P/E/G ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. Research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the sale, the insider now owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by insiders.

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.