Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Lifted by Everence Capital Management Inc.

Everence Capital Management Inc. lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,549 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,060 shares during the period. Broadcom comprises approximately 0.9% of Everence Capital Management Inc.’s holdings, making the stock its 16th largest position. Everence Capital Management Inc.’s holdings in Broadcom were worth $12,892,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Ergawealth Advisors Inc. purchased a new position in Broadcom during the fourth quarter valued at approximately $299,000. Signet Financial Management LLC grew its position in Broadcom by 26.8% during the fourth quarter. Signet Financial Management LLC now owns 5,850 shares of the semiconductor manufacturer’s stock valued at $6,530,000 after purchasing an additional 1,236 shares in the last quarter. Main Street Research LLC grew its position in Broadcom by 2,713.4% during the fourth quarter. Main Street Research LLC now owns 23,014 shares of the semiconductor manufacturer’s stock valued at $25,689,000 after purchasing an additional 22,196 shares in the last quarter. Riverstone Advisors LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $1,229,000. Finally, Octavia Wealth Advisors LLC lifted its stake in Broadcom by 32.3% in the fourth quarter. Octavia Wealth Advisors LLC now owns 1,062 shares of the semiconductor manufacturer’s stock valued at $1,186,000 after acquiring an additional 259 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research note on Thursday, March 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Barclays began coverage on shares of Broadcom in a research note on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 price objective for the company. Finally, Cantor Fitzgerald boosted their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average price target of $1,281.09.

Broadcom Stock Performance

Broadcom stock traded up $25.43 on Tuesday, hitting $1,336.12. The company’s stock had a trading volume of 1,193,097 shares, compared to its average volume of 2,950,400. The firm has a market cap of $619.18 billion, a P/E ratio of 48.76, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company has a fifty day moving average price of $1,304.36 and a 200-day moving average price of $1,110.50. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the previous year, the firm posted $9.83 EPS. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Inc. will post 35.95 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the sale, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Broadcom news, Director Justine Page sold 110 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the transaction, the insider now owns 41,974 shares in the company, valued at $55,257,092.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by insiders.

Broadcom Company 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.