Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,809 shares of the semiconductor manufacturer’s stock after buying an additional 214 shares during the period. Broadcom accounts for about 1.7% of Fortitude Advisory Group L.L.C.’s holdings, making the stock its 13th biggest holding. Fortitude Advisory Group L.L.C.’s holdings in Broadcom were worth $2,738,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Castleview Partners LLC boosted its holdings in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. boosted its stake in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares during the last quarter. JDM Financial Group LLC grew its holdings in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Broadcom in the 4th quarter worth $37,000. Finally, Tsfg LLC raised its holdings in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 204 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the sale, the director now directly owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a 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 dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Up 4.5 %

Shares of NASDAQ:AVGO opened at $215.66 on Friday. The firm has a 50 day simple moving average of $211.24 and a 200-day simple moving average of $181.27. Broadcom Inc. has a twelve month low of $117.43 and a twelve month high of $251.88. 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 company has a market capitalization of $1.01 trillion, a PE ratio of 175.91, a P/E/G ratio of 2.52 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released 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 company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.09%. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AVGO. UBS Group raised their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. 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 report on Friday, December 13th. Barclays raised their target price on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Morgan Stanley decreased their price target on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Citigroup raised their price objective on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Company Profile

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.