Alta Advisers Ltd Purchases 2,589 Shares of Broadcom Inc. (NASDAQ:AVGO)

Alta Advisers Ltd lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 19.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,599 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,589 shares during the quarter. Broadcom makes up about 2.3% of Alta Advisers Ltd’s portfolio, making the stock its 11th biggest holding. Alta Advisers Ltd’s holdings in Broadcom were worth $3,616,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Harvest Investment Services LLC boosted its stake in Broadcom by 0.3% in the 4th quarter. Harvest Investment Services LLC now owns 39,165 shares of the semiconductor manufacturer’s stock valued at $9,080,000 after purchasing an additional 112 shares during the period. Nippon Life Global Investors Americas Inc. raised its stake in Broadcom by 6.4% in the 4th quarter. Nippon Life Global Investors Americas Inc. now owns 15,470 shares of the semiconductor manufacturer’s stock worth $3,587,000 after purchasing an additional 930 shares in the last quarter. Soros Capital Management LLC bought a new stake in Broadcom in the 4th quarter valued at about $12,774,000. Fayez Sarofim & Co raised its position in shares of Broadcom by 4.3% in the fourth quarter. Fayez Sarofim & Co now owns 67,960 shares of the semiconductor manufacturer’s stock valued at $15,756,000 after buying an additional 2,820 shares in the last quarter. Finally, J. Safra Sarasin Holding AG boosted its stake in shares of Broadcom by 2.7% in the fourth quarter. J. Safra Sarasin Holding AG now owns 526,021 shares of the semiconductor manufacturer’s stock valued at $121,979,000 after buying an additional 13,591 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Up 0.6 %

NASDAQ:AVGO opened at $191.66 on Monday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a market cap of $901.18 billion, a price-to-earnings ratio of 156.33, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a 50-day moving average price of $214.38 and a 200-day moving average price of $195.37. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Robert W. Baird lifted their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Barclays boosted their target price on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Evercore ISI upped their target price on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $231.48.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of 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 90 days, insiders have sold 157,168 shares of company stock worth $37,108,677. Corporate insiders own 2.00% of the company’s stock.

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.