Nemes Rush Group LLC Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

Nemes Rush Group LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 859.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 242,261 shares of the semiconductor manufacturer’s stock after purchasing an additional 217,018 shares during the period. Broadcom makes up about 6.9% of Nemes Rush Group LLC’s investment portfolio, making the stock its biggest holding. Nemes Rush Group LLC’s holdings in Broadcom were worth $56,166,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. StoneX Group Inc. increased its holdings in shares of Broadcom by 13.0% in the fourth quarter. StoneX Group Inc. now owns 34,914 shares of the semiconductor manufacturer’s stock worth $8,094,000 after acquiring an additional 4,008 shares in the last quarter. Gibson Capital LLC acquired a new position in shares of Broadcom in the 4th quarter valued at approximately $156,000. HighPoint Advisor Group LLC increased its stake in Broadcom by 4.2% during the 4th quarter. HighPoint Advisor Group LLC now owns 95,199 shares of the semiconductor manufacturer’s stock worth $22,332,000 after purchasing an additional 3,828 shares in the last quarter. Franklin Resources Inc. raised its holdings in Broadcom by 27.4% during the 4th quarter. Franklin Resources Inc. now owns 26,897,909 shares of the semiconductor manufacturer’s stock worth $6,236,011,000 after buying an additional 5,783,988 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG lifted its stake in Broadcom by 23.7% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 577,167 shares of the semiconductor manufacturer’s stock valued at $134,298,000 after buying an additional 110,443 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Down 1.0 %

AVGO stock opened at $167.43 on Tuesday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The stock has a market cap of $787.25 billion, a price-to-earnings ratio of 136.57, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a fifty day moving average price of $208.08 and a two-hundred day moving average price of $196.54. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.41%. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft lifted their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group upped their price objective on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Mizuho reduced their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $231.48.

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 785,976 shares of company stock valued at $147,912,102 in the last three months. 2.00% of the stock is currently owned by company insiders.

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.