Mayflower Financial Advisors LLC Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Mayflower Financial Advisors LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,593 shares of the semiconductor manufacturer’s stock after buying an additional 117 shares during the quarter. Broadcom makes up about 0.9% of Mayflower Financial Advisors LLC’s holdings, making the stock its 24th largest position. Mayflower Financial Advisors LLC’s holdings in Broadcom were worth $5,934,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division raised its holdings in Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after acquiring an additional 3,707 shares during the period. Wolff Financial Management LLC bought a new position in shares of Broadcom in the fourth quarter worth $244,000. Strait & Sound Wealth Management LLC grew its position in shares of Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after purchasing an additional 7,095 shares in the last quarter. Catalyst Financial Partners LLC raised its stake in shares of Broadcom by 943.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after purchasing an additional 18,206 shares during the period. Finally, Motive Wealth Advisors lifted its holdings in Broadcom by 1,076.5% during the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after purchasing an additional 4,209 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction dated 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 sale, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Up 2.6 %

AVGO stock opened at $221.27 on Friday. Broadcom Inc. has a fifty-two week low of $117.43 and a fifty-two week high of $251.88. The company has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 180.48, a price-to-earnings-growth ratio of 2.16 and a beta of 1.03. The business’s 50 day moving average price is $212.27 and its two-hundred day moving average price is $181.58. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) 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 business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the company earned $0.98 earnings per share. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. As a group, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.07%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is presently 192.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Susquehanna boosted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Citigroup increased their price objective on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Bank of America raised their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

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.