Broadcom Inc. (NASDAQ:AVGO) is Alcosta Capital Management Inc.’s 5th Largest Position

Alcosta Capital Management Inc. raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,008 shares of the semiconductor manufacturer’s stock after acquiring an additional 89 shares during the quarter. Broadcom accounts for about 5.0% of Alcosta Capital Management Inc.’s holdings, making the stock its 5th biggest position. Alcosta Capital Management Inc.’s holdings in Broadcom were worth $8,580,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in AVGO. Canton Hathaway LLC acquired a new position in shares of Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $26,000. JDM Financial Group LLC boosted its holdings in shares of Broadcom by 1,323.1% during 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. Sellwood Investment Partners LLC purchased a new stake in Broadcom in the 4th quarter valued at about $32,000. Finally, Bellevue Asset Management LLC purchased a new stake in Broadcom in the fourth quarter valued at approximately $33,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Bank of America increased their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, KeyCorp raised their price objective on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $146.29 on Friday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a fifty day moving average price of $201.57 and a two-hundred day moving average price of $196.19. The firm has a market cap of $687.85 billion, a P/E ratio of 119.32, a PEG ratio of 2.29 and a beta of 1.05.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.61%. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Buying and Selling

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the 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 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 745,976 shares of company stock valued at $138,632,902 over the last three months. Company 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.