HighPoint Advisor Group LLC Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

HighPoint Advisor Group LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 4.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,199 shares of the semiconductor manufacturer’s stock after buying an additional 3,828 shares during the period. Broadcom makes up 1.2% of HighPoint Advisor Group LLC’s portfolio, making the stock its 13th largest holding. HighPoint Advisor Group LLC’s holdings in Broadcom were worth $22,332,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AVGO. Franklin Resources Inc. grew its position in Broadcom by 27.4% in the fourth quarter. Franklin Resources Inc. now owns 26,897,909 shares of the semiconductor manufacturer’s stock worth $6,236,011,000 after acquiring an additional 5,783,988 shares in the last quarter. B. Metzler seel. Sohn & Co. AG lifted its stake in shares of Broadcom by 23.7% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 577,167 shares of the semiconductor manufacturer’s stock valued at $134,298,000 after purchasing an additional 110,443 shares during the last quarter. Seven Mile Advisory boosted its holdings in shares of Broadcom by 11.8% in the 4th quarter. Seven Mile Advisory now owns 7,746 shares of the semiconductor manufacturer’s stock worth $1,796,000 after purchasing an additional 818 shares during the period. Cannell & Spears LLC increased its position in shares of Broadcom by 36.0% during the 4th quarter. Cannell & Spears LLC now owns 205,541 shares of the semiconductor manufacturer’s stock valued at $47,653,000 after purchasing an additional 54,396 shares during the last quarter. Finally, Summit Financial LLC raised its holdings in Broadcom by 4.9% during the 4th quarter. Summit Financial LLC now owns 92,877 shares of the semiconductor manufacturer’s stock valued at $21,538,000 after buying an additional 4,299 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Down 1.7 %

Shares of AVGO opened at $169.12 on Monday. The stock’s 50-day moving average price is $209.48 and its 200-day moving average price is $196.51. 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 company has a market capitalization of $795.19 billion, a price-to-earnings ratio of 137.95, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.40%. Broadcom’s payout ratio is 113.46%.

Insiders Place Their Bets

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 785,976 shares of company stock worth $147,912,102. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of analyst reports. Jefferies Financial Group boosted their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Bank of America raised their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. upped their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Evercore ISI increased their price target on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

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.