Greenleaf Trust Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Greenleaf Trust boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 5.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,757 shares of the semiconductor manufacturer’s stock after purchasing an additional 571 shares during the quarter. Greenleaf Trust’s holdings in Broadcom were worth $12,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Broadcom during the fourth quarter worth about $2,222,676,000. Moneta Group Investment Advisors LLC increased its position in shares of Broadcom by 122,794.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock worth $2,050,420,000 after purchasing an additional 3,664,177 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Broadcom by 113,495.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after purchasing an additional 3,324,288 shares during the last quarter. Providence Capital Advisors LLC increased its position in shares of Broadcom by 49,919.1% in the first quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock worth $3,799,000 after purchasing an additional 2,432,559 shares during the last quarter. Finally, Wellington Management Group LLP increased its position 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 worth $3,343,631,000 after purchasing an additional 1,228,755 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the transaction, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 in the last quarter. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on AVGO. Oppenheimer restated an “outperform” rating and issued a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Evercore ISI assumed coverage on shares of Broadcom in a research report on Tuesday. They issued an “outperform” rating and a $1,620.00 price objective on the stock. Cantor Fitzgerald increased their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Barclays increased their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Trading Down 4.3 %

AVGO stock traded down $54.28 on Friday, reaching $1,204.71. The company’s stock had a trading volume of 4,477,530 shares, compared to its average volume of 2,968,402. 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 business has a fifty day simple moving average of $1,306.69 and a two-hundred day simple moving average of $1,116.18. The firm has a market cap of $558.29 billion, a PE ratio of 45.98, a PEG ratio of 2.62 and a beta of 1.25. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS 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 firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period last year, the company posted $9.83 EPS. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. As a group, research analysts forecast that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

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.