Independent Advisor Alliance Buys 19,818 Shares of Broadcom Inc. (NASDAQ:AVGO)

Independent Advisor Alliance grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 207,410 shares of the semiconductor manufacturer’s stock after buying an additional 19,818 shares during the quarter. Broadcom makes up 0.6% of Independent Advisor Alliance’s holdings, making the stock its 26th biggest holding. Independent Advisor Alliance’s holdings in Broadcom were worth $48,086,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVGO. Pin Oak Investment Advisors Inc. grew its stake in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Canton Hathaway LLC bought a new stake in shares of Broadcom in the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the fourth quarter worth $26,000. JDM Financial Group LLC grew its stake in shares of Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the last quarter. Finally, Bellevue Asset Management LLC bought a new stake in shares of Broadcom in the fourth quarter worth $33,000. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of Broadcom in a report on Friday. Mizuho dropped their target price on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday. Evercore ISI boosted their target price on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Bank of America boosted their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, TD Cowen boosted their target price on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Activity

In other news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. In 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 corporate insiders.

Broadcom Stock Up 8.6 %

Broadcom stock opened at $194.96 on Monday. The company has a market capitalization of $913.85 billion, a P/E ratio of 159.02, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a 50 day moving average price of $222.28 and a 200-day moving average price of $193.12. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 EPS. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

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.