Cozad Asset Management Inc. lifted its stake in Broadcom Inc (NASDAQ:AVGO) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,633 shares of the semiconductor manufacturer’s stock after acquiring an additional 57 shares during the period. Broadcom accounts for 1.8% of Cozad Asset Management Inc.’s portfolio, making the stock its 8th largest position. Cozad Asset Management Inc.’s holdings in Broadcom were worth $5,247,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Accurate Investment Solutions Inc. bought a new position in shares of Broadcom in the 4th quarter worth $25,000. Cohen & Steers Inc. acquired a new position in Broadcom during the 3rd quarter valued at about $52,000. Patten Group Inc. increased its position in Broadcom by 125.5% during the 3rd quarter. Patten Group Inc. now owns 521 shares of the semiconductor manufacturer’s stock valued at $129,000 after buying an additional 290 shares in the last quarter. Canton Hathaway LLC acquired a new position in Broadcom during the 3rd quarter valued at about $130,000. Finally, CWM LLC increased its position in Broadcom by 160.7% during the 3rd quarter. CWM LLC now owns 644 shares of the semiconductor manufacturer’s stock valued at $159,000 after buying an additional 397 shares in the last quarter. 86.37% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on the company. Morgan Stanley reduced their target price on Broadcom from $265.00 to $261.00 and set an “equal weight” rating on the stock in a research report on Monday, January 7th. BidaskClub lowered Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 5th. ValuEngine lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. B. Riley upped their target price on Broadcom from $300.00 to $310.00 and gave the company a “buy” rating in a research report on Tuesday, December 11th. Finally, Jefferies Financial Group upped their target price on Broadcom to $314.00 and gave the company a “buy” rating in a research report on Friday, December 7th. Nine investment analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $288.93.
Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 EPS for the quarter, topping analysts’ consensus estimates of $5.58 by $0.27. Broadcom had a return on equity of 29.03% and a net margin of 58.80%. The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the business earned $4.59 earnings per share. The company’s revenue was up 12.4% compared to the same quarter last year. As a group, equities analysts anticipate that Broadcom Inc will post 18.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 28th. Stockholders of record on Wednesday, December 19th were paid a $2.65 dividend. This is an increase from Broadcom’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend was Tuesday, December 18th. This represents a $10.60 dividend on an annualized basis and a dividend yield of 4.23%. Broadcom’s dividend payout ratio is presently 56.29%.
In other news, Director Donald Macleod sold 5,223 shares of the company’s stock in a transaction dated Monday, January 7th. The stock was sold at an average price of $233.65, for a total value of $1,220,353.95. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $228.94, for a total value of $4,578,800.00. The disclosure for this sale can be found here. Insiders sold 79,723 shares of company stock worth $19,826,374 in the last 90 days. Company insiders own 3.30% of the company’s stock.
Broadcom Company Profile
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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