Stonebrook Private Inc. Purchases Shares of 4,151 Broadcom Inc. (NASDAQ:AVGO)

Stonebrook Private Inc. bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, HoldingsChannel.com reports. The fund bought 4,151 shares of the semiconductor manufacturer’s stock, valued at approximately $4,633,000. Broadcom accounts for 1.5% of Stonebrook Private Inc.’s holdings, making the stock its 16th biggest holding.

Several other hedge funds have also bought and sold shares of AVGO. International Assets Investment Management LLC boosted its stake in shares of Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after acquiring an additional 3,324,288 shares during the period. Wellington Management Group LLP increased its holdings 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 valued at $3,343,631,000 after purchasing an additional 1,228,755 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Broadcom during the 3rd quarter worth about $560,563,000. FMR LLC grew its stake in Broadcom by 16.7% in the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock valued at $3,338,203,000 after buying an additional 573,826 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Broadcom by 19.1% in the 3rd quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock valued at $2,663,339,000 after acquiring an additional 514,120 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AVGO. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a report on Monday, April 8th. UBS Group raised their price target on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Evercore ISI assumed coverage on Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price target for the company. Finally, Susquehanna increased their target price on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Trading Up 3.8 %

Broadcom stock traded up $49.65 during mid-day trading on Friday, hitting $1,344.07. 2,409,983 shares of the stock were exchanged, compared to its average volume of 2,322,994. The stock has a market capitalization of $622.87 billion, a price-to-earnings ratio of 49.82, a PEG ratio of 2.74 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The firm’s fifty day simple moving average is $1,306.70 and its two-hundred day simple moving average is $1,135.99.

Broadcom (NASDAQ:AVGO) last issued its 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. The business had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period in the previous year, the company posted $9.83 earnings per share. Analysts forecast that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.56%. Broadcom’s dividend payout ratio is 77.84%.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction 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 completion of 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 is accessible through the SEC website. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’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 transaction, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the stock in a transaction dated Thursday, March 21st. The shares were 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 approximately $62,465.85. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 over the last ninety days. 2.00% of the stock is owned by company insiders.

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.