Abundance Wealth Counselors Boosts Position in Broadcom Inc. (NASDAQ:AVGO)

Abundance Wealth Counselors boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 6.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,887 shares of the semiconductor manufacturer’s stock after buying an additional 818 shares during the quarter. Broadcom accounts for about 0.7% of Abundance Wealth Counselors’ portfolio, making the stock its 21st largest holding. Abundance Wealth Counselors’ holdings in Broadcom were worth $2,988,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AVGO. AMF Tjanstepension AB raised its position in Broadcom by 856.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock worth $175,101,000 after buying an additional 908,585 shares during the last quarter. Czech National Bank increased its holdings in shares of Broadcom by 1,042.3% during the 3rd quarter. Czech National Bank now owns 948,249 shares of the semiconductor manufacturer’s stock valued at $163,573,000 after purchasing an additional 865,238 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Broadcom by 1,136.4% during the 3rd quarter. GAMMA Investing LLC now owns 85,610 shares of the semiconductor manufacturer’s stock valued at $14,768,000 after purchasing an additional 78,686 shares in the last quarter. WealthBridge Capital Management LLC increased its holdings in shares of Broadcom by 986.0% during the 3rd quarter. WealthBridge Capital Management LLC now owns 3,801 shares of the semiconductor manufacturer’s stock valued at $656,000 after purchasing an additional 3,451 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV increased its holdings in shares of Broadcom by 806.0% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 36,774 shares of the semiconductor manufacturer’s stock valued at $6,344,000 after purchasing an additional 32,715 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Evercore ISI lifted 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. Robert W. Baird lifted their target price on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research note on Wednesday, December 11th. Morgan Stanley dropped their price target on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Susquehanna lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Three investment 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

Get Our Latest Report on AVGO

Insider Activity

In related news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Down 1.6 %

Shares of AVGO stock opened at $217.73 on Tuesday. The company’s 50-day moving average price is $213.41 and its 200-day moving average price is $182.20. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1.02 trillion, a price-to-earnings ratio of 177.60, a PEG ratio of 2.31 and a beta of 1.03. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm 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%. The company’s revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. As a group, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. Broadcom’s payout ratio is presently 191.87%.

Broadcom Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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