Diversify Advisory Services LLC Raises Position in Broadcom Inc. (NASDAQ:AVGO)

Diversify Advisory Services LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 49.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,768 shares of the semiconductor manufacturer’s stock after buying an additional 31,492 shares during the period. Broadcom comprises about 1.2% of Diversify Advisory Services LLC’s holdings, making the stock its 15th largest position. Diversify Advisory Services LLC’s holdings in Broadcom were worth $21,257,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of AVGO. Castleview Partners LLC raised its holdings in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. increased its stake in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. JDM Financial Group LLC lifted its position in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Broadcom in the 4th quarter worth approximately $37,000. Finally, Tsfg LLC grew its holdings in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 204 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 1.2 %

AVGO stock opened at $240.31 on Wednesday. The company’s 50 day moving average is $203.18 and its 200 day moving average is $178.65. The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 196.01, a price-to-earnings-growth ratio of 2.48 and a beta of 1.03. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 1-year low of $117.43 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO) last issued 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. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. Sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 192.50%.

Insider Activity

In related news, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the transaction, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. The trade was a 17.68 % 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 worth $44,964,800. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AVGO shares. TD Cowen lifted their price target on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Evercore ISI raised their price objective on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Benchmark reiterated a “buy” rating and issued a $255.00 target price (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Finally, Mizuho lifted their price target on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average 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.