Beacon Investment Advisory Services Inc. Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Beacon Investment Advisory Services Inc. lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 107,502 shares of the semiconductor manufacturer’s stock after buying an additional 942 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Broadcom were worth $24,923,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Castleview Partners LLC lifted its holdings in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 134 shares during the period. Pin Oak Investment Advisors Inc. boosted its position 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 in the last quarter. JDM Financial Group LLC boosted its position in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in Broadcom in the fourth quarter worth about $37,000. Finally, Tsfg LLC lifted its position in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 204 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $244.70 on Friday. The stock has a market cap of $1.15 trillion, a P/E ratio of 199.59, a P/E/G ratio of 2.52 and a beta of 1.03. 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 firm has a fifty day moving average price of $208.80 and a 200 day moving average price of $180.62. Broadcom Inc. has a 1 year low of $117.43 and a 1 year high of $251.88.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.96%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 192.50%.

Insider Activity

In related news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the sale, the director now owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVGO. Cantor Fitzgerald lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Mizuho upped their price target on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Susquehanna raised their price objective on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Truist Financial increased their price target on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Morgan Stanley boosted their price target on Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Three equities research 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, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $225.83.

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.