Howe & Rusling Inc. Raises Stake in Broadcom Inc. (NASDAQ:AVGO)

Howe & Rusling Inc. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 9.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,041 shares of the semiconductor manufacturer’s stock after buying an additional 1,809 shares during the period. Broadcom makes up about 2.4% of Howe & Rusling Inc.’s investment portfolio, making the stock its 9th largest position. Howe & Rusling Inc.’s holdings in Broadcom were worth $22,370,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Concord Wealth Partners increased its position in shares of Broadcom by 13.1% during the fourth quarter. Concord Wealth Partners now owns 3,748 shares of the semiconductor manufacturer’s stock valued at $4,184,000 after purchasing an additional 435 shares during the period. DiNuzzo Private Wealth Inc. bought a new stake in Broadcom in the fourth quarter valued at $61,000. ICW Investment Advisors LLC grew its position in Broadcom by 0.6% in the fourth quarter. ICW Investment Advisors LLC now owns 1,656 shares of the semiconductor manufacturer’s stock valued at $1,849,000 after acquiring an additional 10 shares during the period. Victory Capital Management Inc. grew its position in Broadcom by 12.9% in the fourth quarter. Victory Capital Management Inc. now owns 612,397 shares of the semiconductor manufacturer’s stock valued at $683,588,000 after acquiring an additional 70,050 shares during the period. Finally, Berry Wealth Group LP bought a new stake in Broadcom in the fourth quarter valued at $5,574,000. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Down 3.4 %

Broadcom stock traded down $44.34 during midday trading on Wednesday, reaching $1,255.93. The stock had a trading volume of 2,114,358 shares, compared to its average volume of 2,896,623. The firm has a market cap of $582.02 billion, a price-to-earnings ratio of 46.63, a price-to-earnings-growth ratio of 2.72 and a beta of 1.25. The company has a fifty day moving average of $1,310.04 and a 200 day moving average of $1,143.82. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. 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 (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $11.79 billion. During the same period last year, the firm earned $9.83 earnings per share. Broadcom’s revenue was up 34.2% compared to the same quarter last year. On average, analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.67%. Broadcom’s payout ratio is 77.84%.

Insider Activity

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business’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 transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 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 sale, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AVGO shares. Susquehanna boosted their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Cantor Fitzgerald upped their price target on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Finally, UBS Group increased their price target on Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

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.