HBW Advisory Services LLC Buys 1,770 Shares of Broadcom Inc. (NASDAQ:AVGO)

HBW Advisory Services LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,281 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,770 shares during the period. Broadcom comprises about 1.0% of HBW Advisory Services LLC’s investment portfolio, making the stock its 20th biggest holding. HBW Advisory Services LLC’s holdings in Broadcom were worth $7,020,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Castleview Partners LLC boosted its stake in shares of Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its position in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. JDM Financial Group LLC lifted its position in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares in the last quarter. Tsfg LLC lifted its position in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares in the last quarter. Finally, Cedar Wealth Management LLC lifted its position in Broadcom by 900.0% during the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after purchasing an additional 216 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AVGO shares. Cantor Fitzgerald lifted their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Mizuho boosted their price objective on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday. Barclays boosted their price objective on Broadcom from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Bank of America boosted their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Susquehanna boosted their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $223.54.

Broadcom Trading Down 2.0 %

NASDAQ AVGO traded down $4.53 during trading hours on Friday, hitting $224.78. 15,381,327 shares of the company were exchanged, compared to its average volume of 25,056,813. The stock has a 50-day moving average price of $195.79 and a 200 day moving average price of $175.31. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 52 week low of $107.45 and a 52 week high of $251.88. The stock has a market cap of $1.05 trillion, a PE ratio of 195.29, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Analysts forecast that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared 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 an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. Broadcom’s dividend payout ratio is presently 191.87%.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This represents a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harry L. You sold 6,540 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 187,278 shares of company stock valued at $44,046,240 in the last ninety days. Company insiders own 2.00% of the company’s stock.

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.