Steward Partners Investment Advisory LLC Raises Stake in Broadcom Inc. (NASDAQ:AVGO)

Steward Partners Investment Advisory LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 608,038 shares of the semiconductor manufacturer’s stock after purchasing an additional 33,603 shares during the quarter. Broadcom makes up approximately 1.3% of Steward Partners Investment Advisory LLC’s investment portfolio, making the stock its 10th largest holding. Steward Partners Investment Advisory LLC’s holdings in Broadcom were worth $140,968,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Global Strategic Investment Solutions LLC grew its stake in shares of Broadcom by 1.5% in the fourth quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer’s stock valued at $782,000 after acquiring an additional 50 shares in the last quarter. Unified Investment Management acquired a new position in shares of Broadcom in the fourth quarter valued at about $747,000. Bravias Capital Group LLC acquired a new position in shares of Broadcom in the fourth quarter valued at about $250,000. Gryphon Financial Partners LLC grew its stake in shares of Broadcom by 1.8% in the fourth quarter. Gryphon Financial Partners LLC now owns 22,898 shares of the semiconductor manufacturer’s stock valued at $5,309,000 after acquiring an additional 401 shares in the last quarter. Finally, Meridian Wealth Management LLC grew its stake in shares of Broadcom by 11.1% in the fourth quarter. Meridian Wealth Management LLC now owns 72,613 shares of the semiconductor manufacturer’s stock valued at $16,835,000 after acquiring an additional 7,278 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Down 6.0 %

Shares of NASDAQ AVGO opened at $187.37 on Tuesday. The company has a 50 day simple moving average of $226.54 and a 200 day simple moving average of $192.50. The firm has a market cap of $878.27 billion, a PE ratio of 152.83, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. 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 current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter last year, the business earned $0.98 EPS. On average, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.26%. 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. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Insiders Place Their Bets

In other Broadcom news, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of several research reports. Mizuho upped their price target on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Barclays upped their price target on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Piper Sandler increased their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom 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.