Patriot Financial Group Insurance Agency LLC Raises Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Patriot Financial Group Insurance Agency LLC increased its position in Broadcom Inc. (NASDAQ:AVGO) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,110 shares of the semiconductor manufacturer’s stock after buying an additional 35 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Broadcom were worth $1,239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC raised its holdings in Broadcom by 76.5% in the 3rd quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 13 shares in the last quarter. Bollard Group LLC purchased a new stake in shares of Broadcom in the 2nd quarter worth about $26,000. Macroview Investment Management LLC purchased a new stake in shares of Broadcom in the 3rd quarter worth about $29,000. BKM Wealth Management LLC purchased a new stake in shares of Broadcom in the 4th quarter worth about $29,000. Finally, Indiana Trust & Investment Management CO purchased a new stake in shares of Broadcom in the 3rd quarter worth about $32,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of AVGO stock traded up $6.68 on Friday, reaching $1,325.41. The company’s stock had a trading volume of 1,985,552 shares, compared to its average volume of 4,170,809. The stock’s fifty day simple moving average is $1,275.48 and its 200-day simple moving average is $1,065.08. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. 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 company has a market capitalization of $614.22 billion, a price-to-earnings ratio of 49.13, a price-to-earnings-growth ratio of 2.78 and a beta of 1.26.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. 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 earned $9.83 earnings per share. Analysts forecast that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be paid a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AVGO. Mizuho upped their target price 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. Summit Insights raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. Citigroup reaffirmed a “buy” rating and set a $1,100.00 price target on shares of Broadcom in a report on Monday, December 11th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $1,230.18.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the sale, the chief financial officer now owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The disclosure for this sale can be found here. Insiders sold 19,810 shares of company stock valued at $26,107,692 over the last three months. 2.00% of the stock is owned by company insiders.

About Broadcom

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.