Obermeyer Wood Investment Counsel Lllp Grows Stake in Broadcom Inc. (NASDAQ:AVGO)

Obermeyer Wood Investment Counsel Lllp grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 9.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,388 shares of the semiconductor manufacturer’s stock after acquiring an additional 120 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Broadcom were worth $1,549,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. RMR Wealth Builders grew its stake in Broadcom by 6.5% during the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock worth $5,284,000 after buying an additional 388 shares during the last quarter. Czech National Bank grew its stake in Broadcom by 46.1% during the 3rd quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock worth $59,909,000 after buying an additional 22,774 shares during the last quarter. Alpha Omega Wealth Management LLC grew its stake in Broadcom by 66.6% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock worth $4,756,000 after buying an additional 1,704 shares during the last quarter. CI Investments Inc. grew its stake in Broadcom by 89.4% during the 3rd quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock worth $114,221,000 after buying an additional 64,912 shares during the last quarter. Finally, NatWest Group plc grew its stake in Broadcom by 8.2% during the 4th quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer’s stock worth $9,263,000 after buying an additional 631 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Benchmark reaffirmed a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, Susquehanna boosted their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Price Performance

NASDAQ:AVGO traded down $23.64 during trading hours on Thursday, hitting $1,258.99. 2,449,250 shares of the stock were exchanged, compared to its average volume of 2,947,770. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The firm’s fifty day moving average price is $1,307.00 and its 200 day moving average price is $1,115.19. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The company has a market cap of $583.44 billion, a P/E ratio of 46.86, a P/E/G ratio of 2.71 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS 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 analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the business earned $9.83 EPS. As a group, equities research analysts anticipate that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.67%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Activity

In related news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the transaction, the insider now directly owns 46,974 shares in the company, valued at $61,957,296.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Kirsten M. Spears sold 3,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $1,343.14, for a total value of $4,029,420.00. Following the transaction, the chief financial officer now owns 43,459 shares of the company’s stock, valued at $58,371,521.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of the transaction, the insider now directly owns 46,974 shares in the company, valued at approximately $61,957,296.78. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

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.