MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Acquires 871 Shares of Broadcom Inc. (NASDAQ:AVGO)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,378 shares of the semiconductor manufacturer’s stock after purchasing an additional 871 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Broadcom were worth $32,793,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BKM Wealth Management LLC bought a new stake in Broadcom during the 4th quarter valued at $29,000. Bollard Group LLC purchased a new position in shares of Broadcom in the 2nd quarter worth about $26,000. Rise Advisors LLC boosted its holdings in shares of 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 buying an additional 13 shares during the last quarter. Macroview Investment Management LLC purchased a new position in shares of Broadcom in the 3rd quarter worth about $29,000. Finally, Indiana Trust & Investment Management CO purchased a new position in shares of Broadcom in the 3rd quarter worth about $32,000. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AVGO. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Cantor Fitzgerald upped their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Barclays initiated coverage on shares of Broadcom in a report on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 price objective on the stock. Finally, Summit Insights raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Friday, December 8th. Three research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $1,230.18.

Insider Buying and Selling at Broadcom

In other news, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction that occurred on 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 owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were 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 directly owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The disclosure for this sale can be found here. Insiders have sold 19,810 shares of company stock worth $26,107,692 over the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO stock traded up $6.68 during trading on Friday, hitting $1,325.41. The company had a trading volume of 1,985,552 shares, compared to its average volume of 4,170,809. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The stock’s 50-day moving average is $1,275.48 and its two-hundred day moving average is $1,065.08. The stock 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 Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the prior year, the business earned $9.83 earnings per share. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. As a group, analysts predict 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 given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

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.