Veracity Capital LLC Acquires 754 Shares of Broadcom Inc. (NASDAQ:AVGO)

Veracity Capital LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,440 shares of the semiconductor manufacturer’s stock after buying an additional 754 shares during the period. Broadcom makes up about 0.9% of Veracity Capital LLC’s holdings, making the stock its 16th largest holding. Veracity Capital LLC’s holdings in Broadcom were worth $2,420,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Castleview Partners LLC boosted its holdings 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 valued at $25,000 after buying an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. JDM Financial Group LLC grew its position in shares of 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 acquiring an additional 172 shares during the period. Retirement Wealth Solutions LLC bought a new stake in shares of Broadcom in the 4th quarter valued at about $37,000. Finally, Tsfg LLC lifted its stake in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 1.8 %

Shares of NASDAQ:AVGO opened at $244.70 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 52-week low of $117.43 and a 52-week high of $251.88. The company has a market capitalization of $1.15 trillion, a PE ratio of 199.59, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03. The company has a fifty day moving average of $208.80 and a 200-day moving average of $180.62.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. 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 declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is 192.50%.

Insider Activity

In other news, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of several research analyst reports. Evercore ISI upped their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Robert W. Baird lifted their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Truist Financial upped their price target on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report 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.com, the company currently has an average 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.