Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by IFG Advisory LLC

IFG Advisory LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 1.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,238 shares of the semiconductor manufacturer’s stock after buying an additional 66 shares during the period. IFG Advisory LLC’s holdings in Broadcom were worth $6,963,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC grew its position in Broadcom by 76.5% in the 3rd quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 13 shares during the last quarter. Bollard Group LLC bought a new position in shares of Broadcom in the second quarter valued at approximately $26,000. Macroview Investment Management LLC bought a new position in shares of Broadcom in the third quarter valued at approximately $29,000. BKM Wealth Management LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $29,000. Finally, Indiana Trust & Investment Management CO bought a new position in shares of Broadcom in the third quarter valued at approximately $32,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 1.0 %

AVGO stock opened at $1,318.73 on Thursday. The company has a market cap of $611.13 billion, a price-to-earnings ratio of 48.88, a PEG ratio of 2.85 and a beta of 1.26. The company has a 50 day moving average of $1,267.55 and a two-hundred day moving average of $1,061.46. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter last year, the firm earned $9.83 EPS. On average, equities analysts anticipate that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 21st will be issued a dividend of $5.25 per share. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.59%. Broadcom’s dividend payout ratio is currently 77.84%.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent analyst reports. Citigroup reiterated a “buy” rating and issued a $1,100.00 price objective on shares of Broadcom in a report on Monday, December 11th. Summit Insights upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a report on Friday, December 8th. UBS Group raised their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. The Goldman Sachs Group restated a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. Finally, StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $1,230.18.

Insider Activity

In related news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,810 shares of company stock worth $26,107,692. 2.00% of the stock is owned by corporate insiders.

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.