Hyman Charles D Increases Stake in Broadcom Inc. (NASDAQ:AVGO)

Hyman Charles D raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 150.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 672 shares of the semiconductor manufacturer’s stock after buying an additional 404 shares during the quarter. Hyman Charles D’s holdings in Broadcom were worth $750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Stuart Chaussee & Associates Inc. purchased a new position in shares of Broadcom in the fourth quarter valued at $25,000. PSI Advisors LLC lifted its position in 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 buying an additional 10 shares during the last quarter. BKM Wealth Management LLC bought a new stake in Broadcom in the fourth quarter worth $29,000. CKW Financial Group bought a new stake in Broadcom in the fourth quarter worth $30,000. Finally, Bfsg LLC bought a new stake in Broadcom in the fourth quarter worth $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a filing with the SEC, which is available through this link. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the sale, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the sale, the chief executive officer now 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 quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AVGO. Cantor Fitzgerald raised their price target on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Benchmark restated a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Susquehanna lifted their target price on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Mizuho lifted their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Stock Down 0.5 %

Shares of AVGO stock traded down $7.20 during trading hours on Tuesday, reaching $1,303.11. 1,240,937 shares of the company’s stock were exchanged, compared to its average volume of 2,871,969. Broadcom Inc. has a 1 year low of $615.86 and a 1 year high of $1,438.17. The stock has a market cap of $603.89 billion, a PE ratio of 48.30, a PEG ratio of 2.60 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The stock’s fifty day moving average price is $1,308.82 and its two-hundred day moving average price is $1,157.75.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business 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 earned $9.83 earnings per share. The company’s revenue was up 34.2% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.61%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

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.