Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,250 shares of the semiconductor manufacturer’s stock after buying an additional 945 shares during the quarter. Broadcom accounts for approximately 0.9% of Hennion & Walsh Asset Management Inc.’s holdings, making the stock its 12th biggest holding. Hennion & Walsh Asset Management Inc.’s holdings in Broadcom were worth $19,764,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mason & Associates Inc boosted its stake in shares of Broadcom by 22.1% during the 4th quarter. Mason & Associates Inc now owns 5,527 shares of the semiconductor manufacturer’s stock valued at $1,281,000 after buying an additional 1,000 shares during the last quarter. Foresight Capital Management Advisors Inc. raised its holdings in Broadcom by 3.8% in the fourth quarter. Foresight Capital Management Advisors Inc. now owns 21,948 shares of the semiconductor manufacturer’s stock valued at $5,088,000 after acquiring an additional 796 shares in the last quarter. Heritage Family Offices LLP boosted its stake in Broadcom by 7.6% during the 4th quarter. Heritage Family Offices LLP now owns 14,635 shares of the semiconductor manufacturer’s stock valued at $3,393,000 after acquiring an additional 1,038 shares during the last quarter. Financial Enhancement Group LLC grew its holdings in Broadcom by 498.9% during the 4th quarter. Financial Enhancement Group LLC now owns 53,830 shares of the semiconductor manufacturer’s stock worth $12,127,000 after acquiring an additional 44,842 shares in the last quarter. Finally, Rovin Capital UT ADV increased its position in shares of Broadcom by 6.9% in the 4th quarter. Rovin Capital UT ADV now owns 5,164 shares of the semiconductor manufacturer’s stock worth $1,197,000 after purchasing an additional 335 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of AVGO opened at $237.44 on Friday. The firm has a market capitalization of $1.11 trillion, a PE ratio of 193.67, a P/E/G ratio of 2.35 and a beta of 1.03. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $200.93 and a 200 day moving average price of $177.60. Broadcom Inc. has a 52-week low of $112.19 and a 52-week high of $251.88.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the firm posted $0.98 earnings per share. The business’s revenue was up 51.2% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share 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 paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 191.87%.

Insider Activity

In other news, Director Harry L. You sold 6,540 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the director now directly 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. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Piper Sandler increased their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Robert W. Baird lifted their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Barclays upped their price target on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday. Benchmark reaffirmed a “buy” rating and issued a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. Finally, Jefferies Financial Group increased their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.83.

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.