Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Cedar Brook Financial Partners LLC

Cedar Brook Financial Partners LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,613 shares of the semiconductor manufacturer’s stock after purchasing an additional 127 shares during the period. Cedar Brook Financial Partners LLC’s holdings in Broadcom were worth $1,774,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AVGO. Norges Bank acquired a new position in shares of Broadcom in the 4th quarter worth approximately $2,222,676,000. Moneta Group Investment Advisors LLC increased its position in shares of Broadcom by 122,794.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock worth $2,050,420,000 after acquiring an additional 3,664,177 shares in the last quarter. Providence Capital Advisors LLC increased its position in shares of Broadcom by 49,919.1% in the first quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock worth $3,799,000 after acquiring an additional 2,432,559 shares in the last quarter. BlackRock Inc. increased its position in shares of Broadcom by 6.2% in the second quarter. BlackRock Inc. now owns 31,681,688 shares of the semiconductor manufacturer’s stock worth $27,481,646,000 after acquiring an additional 1,836,795 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Broadcom by 43.9% in the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after acquiring an additional 1,228,755 shares in the last quarter. Institutional investors and hedge funds own 78.81% of the company’s stock.

Broadcom Stock Performance

AVGO stock traded up $72.00 on Thursday, reaching $1,348.00. 7,240,891 shares of the company were exchanged, compared to its average volume of 3,143,263. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The stock’s fifty day moving average price is $1,248.46 and its 200 day moving average price is $1,046.68. The firm has a market capitalization of $624.69 billion, a PE ratio of 49.96, a PEG ratio of 2.61 and a beta of 1.26. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion for 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%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.83 EPS. On average, research analysts anticipate that Broadcom Inc. will post 36.8 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be issued a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.56%. The ex-dividend date is Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling at Broadcom

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated 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 sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated 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 sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 2,500 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the sale, the chief financial officer now directly owns 26,880 shares in the company, valued at approximately $28,039,603.20. The disclosure for this sale can be found here. Insiders have sold 14,810 shares of company stock valued at $19,387,692 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AVGO shares. Mizuho lifted 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. Susquehanna lifted their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a research report on Thursday. Barclays assumed coverage on shares of Broadcom in a research report on Wednesday. They issued an “overweight” rating and a $1,405.00 target price on the stock. Finally, Truist Financial raised their price target on shares of Broadcom from $995.00 to $1,015.00 and gave the stock a “buy” rating in a report on Friday, December 8th. Three investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,230.18.

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.