Hobart Private Capital LLC Has $1.49 Million Holdings in Broadcom Inc. $AVGO

Hobart Private Capital LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 52.2% during the third quarter, Holdings Channel.com reports. The firm owned 4,503 shares of the semiconductor manufacturer’s stock after buying an additional 1,544 shares during the period. Hobart Private Capital LLC’s holdings in Broadcom were worth $1,486,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in AVGO. Assetmark Inc. lifted its holdings in shares of Broadcom by 2.4% during the 2nd quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock valued at $469,566,000 after buying an additional 39,466 shares during the last quarter. Capital Counsel LLC NY bought a new position in Broadcom during the second quarter valued at approximately $221,000. Waterloo Capital L.P. lifted its stake in Broadcom by 7.0% in the second quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock valued at $13,331,000 after acquiring an additional 3,180 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Broadcom by 27.9% in the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock worth $10,737,000 after acquiring an additional 13,978 shares in the last quarter. Finally, RiverFront Investment Group LLC increased its stake in shares of Broadcom by 107.6% during the 2nd quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock worth $4,555,000 after purchasing an additional 8,566 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Henry Samueli sold 320,316 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $400.53, for a total value of $128,296,167.48. Following the sale, the director owned 37,326,540 shares of the company’s stock, valued at approximately $14,950,399,066.20. This represents a 0.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the sale, the chief financial officer owned 313,330 shares of the company’s stock, valued at $108,932,307.80. This trade represents a 2.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 818,662 shares of company stock worth $297,135,938 in the last three months. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $339.81 on Tuesday. The stock has a market cap of $1.60 trillion, a PE ratio of 71.39, a P/E/G ratio of 1.22 and a beta of 1.19. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61. The stock’s 50 day simple moving average is $363.26 and its 200-day simple moving average is $319.19. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.08. The business had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The firm’s revenue was up 28.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.42 EPS. Sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, December 22nd. This is a boost from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is 54.62%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AVGO. Cowen reaffirmed a “buy” rating on shares of Broadcom in a research note on Friday. Macquarie assumed coverage on Broadcom in a research report on Monday, September 15th. They issued an “outperform” rating and a $420.00 price target for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Broadcom in a report on Monday, December 8th. Argus boosted their target price on Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Finally, Morgan Stanley upped their target price on Broadcom from $443.00 to $462.00 and gave the stock an “overweight” rating in a research report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Broadcom has an average rating of “Buy” and a consensus price target of $435.96.

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.