Mitchell Mcleod Pugh & Williams Inc. Has $4.06 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Mitchell Mcleod Pugh & Williams Inc. raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 4.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,636 shares of the semiconductor manufacturer’s stock after purchasing an additional 148 shares during the quarter. Broadcom makes up 1.1% of Mitchell Mcleod Pugh & Williams Inc.’s holdings, making the stock its 21st largest position. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Broadcom were worth $4,059,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Stuart Chaussee & Associates Inc. acquired a new position in Broadcom in the 4th quarter valued at $25,000. PSI Advisors LLC raised its stake in shares of Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 10 shares during the last quarter. Macroview Investment Management LLC bought a new position in shares of Broadcom in the third quarter worth about $29,000. BKM Wealth Management LLC bought a new stake in shares of Broadcom during the fourth quarter worth approximately $29,000. Finally, CKW Financial Group bought a new stake in shares of Broadcom during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Down 0.6 %

NASDAQ:AVGO traded down $7.46 during mid-day trading on Monday, hitting $1,336.61. The company had a trading volume of 396,015 shares, compared to its average volume of 2,903,808. The business has a fifty day simple moving average of $1,306.70 and a 200-day simple moving average of $1,137.84. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The firm has a market capitalization of $619.41 billion, a price-to-earnings ratio of 49.82, a PEG ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.83 earnings per share. Equities analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AVGO shares. Susquehanna upped their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Cantor Fitzgerald increased their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Mizuho upped their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research report on Monday, April 8th. Finally, Barclays upped their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insiders Place Their Bets

In other Broadcom 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 transaction of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $22,276,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares in the company, valued at approximately $220,583,976. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

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.