Auxano Advisors LLC Has $1.23 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Auxano Advisors LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,310 shares of the semiconductor manufacturer’s stock after purchasing an additional 402 shares during the quarter. Auxano Advisors LLC’s holdings in Broadcom were worth $1,231,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. grew its holdings in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Canton Hathaway LLC bought a new position in shares of Broadcom during the fourth quarter worth $26,000. JDM Financial Group LLC grew its holdings in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the period. Retirement Wealth Solutions LLC bought a new stake in shares of Broadcom in the 4th quarter valued at $37,000. Finally, R Squared Ltd acquired a new stake in Broadcom during the 4th quarter worth $39,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Down 6.0 %

Broadcom stock opened at $187.37 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company’s 50-day moving average is $226.54 and its 200-day moving average is $192.50. The firm has a market capitalization of $878.27 billion, a PE ratio of 152.83, a P/E/G ratio of 2.29 and a beta of 1.02. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The business’s revenue was up 51.2% compared to the same quarter last year. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.26%. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AVGO shares. Piper Sandler boosted their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Jefferies Financial Group boosted their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. TD Cowen raised their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Truist Financial upped their price target on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the sale, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now directly owns 30,450 shares in the company, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

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.