Joel Isaacson & Co. LLC Grows Holdings in Broadcom Inc. $AVGO

Joel Isaacson & Co. LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.8% in the third quarter, Holdings Channel reports. The institutional investor owned 13,226 shares of the semiconductor manufacturer’s stock after buying an additional 1,800 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Broadcom were worth $4,363,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Longfellow Investment Management Co. LLC bought a new stake in shares of Broadcom in the 2nd quarter worth about $27,000. Legend Financial Advisors Inc. acquired a new position in Broadcom in the second quarter worth about $28,000. Teachers Insurance & Annuity Association of America acquired a new position in Broadcom in the second quarter worth about $28,000. LGT Financial Advisors LLC bought a new stake in Broadcom in the second quarter valued at about $31,000. Finally, New England Capital Financial Advisors LLC acquired a new stake in Broadcom during the second quarter valued at approximately $31,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, Director Harry L. You bought 1,000 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were purchased at an average cost of $325.13 per share, for a total transaction of $325,130.00. Following the transaction, the director directly owned 36,602 shares in the company, valued at $11,900,408.26. The trade was a 2.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 30,000 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total value of $10,434,600.00. Following the transaction, the chief financial officer owned 277,237 shares of the company’s stock, valued at $96,428,573.34. This trade represents a 9.76% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 779,901 shares of company stock valued at $284,069,237. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $324.85 on Tuesday. The firm has a fifty day moving average of $356.84 and a 200-day moving average of $336.51. The company has a market cap of $1.54 trillion, a price-to-earnings ratio of 68.25, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. The business had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The company’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.42 EPS. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were paid a $0.65 dividend. The ex-dividend date was Monday, December 22nd. This is an increase from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is 54.62%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AVGO. Deutsche Bank Aktiengesellschaft set a $430.00 target price on Broadcom and gave the stock a “buy” rating in a research report on Friday, December 12th. UBS Group set a $475.00 price objective on Broadcom and gave the stock a “buy” rating in a research note on Monday, December 15th. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Robert W. Baird set a $420.00 target price on shares of Broadcom in a report on Friday, December 12th. Finally, Wall Street Zen upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $438.61.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.