Ninepoint Partners LP Has $835,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Ninepoint Partners LP grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 748 shares of the semiconductor manufacturer’s stock after purchasing an additional 16 shares during the quarter. Ninepoint Partners LP’s holdings in Broadcom were worth $835,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AVGO. State Street Corp increased its holdings in shares of Broadcom by 5.0% during the 1st quarter. State Street Corp now owns 16,632,123 shares of the semiconductor manufacturer’s stock worth $10,670,149,000 after acquiring an additional 794,832 shares during the last quarter. Morgan Stanley increased its holdings in shares of Broadcom by 12.5% during the 4th quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock worth $3,287,056,000 after acquiring an additional 651,014 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Broadcom by 11.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock worth $2,948,563,000 after acquiring an additional 488,405 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Broadcom by 2.1% during the 3rd quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock worth $3,866,684,000 after acquiring an additional 93,615 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of Broadcom by 4.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,280,218 shares of the semiconductor manufacturer’s stock worth $3,712,789,000 after acquiring an additional 179,272 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

AVGO traded down $33.36 during trading on Friday, hitting $1,225.63. 1,535,118 shares of the stock traded hands, compared to its average volume of 2,928,425. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The company has a market cap of $567.98 billion, a price-to-earnings ratio of 45.98, a PEG ratio of 2.62 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The business has a 50 day moving average price of $1,306.69 and a 200 day moving average price of $1,116.18.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion during 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%. The company’s revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the business earned $9.83 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.71%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Charlie B. Kawwas sold 5,000 shares of the business’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 sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AVGO shares. Cantor Fitzgerald boosted their target price on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Susquehanna upped their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Barclays upped their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a report on Friday, January 19th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

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.