River Global Investors LLP Invests $5.60 Million in Broadcom Inc. (NASDAQ:AVGO)

River Global Investors LLP acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,011 shares of the semiconductor manufacturer’s stock, valued at approximately $5,596,000. Broadcom makes up 1.1% of River Global Investors LLP’s portfolio, making the stock its 19th largest holding.

A number of other institutional investors have also made changes to their positions in the stock. Connecticut Wealth Management LLC grew its holdings in shares of Broadcom by 121.2% during the 4th quarter. Connecticut Wealth Management LLC now owns 2,718 shares of the semiconductor manufacturer’s stock worth $3,034,000 after purchasing an additional 1,489 shares in the last quarter. Avidian Wealth Solutions LLC grew its holdings in shares of Broadcom by 8.0% during the 4th quarter. Avidian Wealth Solutions LLC now owns 1,608 shares of the semiconductor manufacturer’s stock worth $1,795,000 after purchasing an additional 119 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Broadcom by 142.0% during the 4th quarter. National Bank of Canada FI now owns 729,034 shares of the semiconductor manufacturer’s stock worth $791,255,000 after purchasing an additional 427,840 shares in the last quarter. Alan B Lancz & Associates Inc. acquired a new stake in shares of Broadcom during the 4th quarter worth approximately $265,000. Finally, Forte Capital LLC ADV grew its holdings in shares of Broadcom by 0.7% during the 4th quarter. Forte Capital LLC ADV now owns 2,135 shares of the semiconductor manufacturer’s stock worth $2,384,000 after purchasing an additional 14 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Up 3.2 %

NASDAQ:AVGO traded up $39.54 on Friday, reaching $1,278.11. The company’s stock had a trading volume of 2,489,755 shares, compared to its average volume of 2,435,058. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The firm has a market cap of $592.30 billion, a PE ratio of 47.37, a PEG ratio of 2.52 and a beta of 1.25. The business’s 50-day moving average price is $1,308.66 and its two-hundred day moving average price is $1,147.78.

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. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.83 earnings per share. Equities research analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current fiscal 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 given 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 1.64%. Broadcom’s dividend payout ratio is currently 77.84%.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent analyst reports. UBS Group boosted their price target on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Susquehanna lifted their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Barclays lifted their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a research report on Friday, January 19th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was 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 of the company’s stock, valued at $22,276,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Justine Page sold 110 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 over the last three months. Company insiders own 2.00% of the company’s stock.

Broadcom Company 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.