Broadcom Inc. (NASDAQ:AVGO) Stock Position Raised by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 16.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,792 shares of the semiconductor manufacturer’s stock after purchasing an additional 25,981 shares during the period. Russell Investments Group Ltd.’s holdings in Broadcom were worth $205,261,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Pathway Financial Advisors LLC lifted its holdings in shares of Broadcom by 11.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after purchasing an additional 93 shares in the last quarter. RMR Wealth Builders raised its holdings in shares of Broadcom by 6.5% during the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock worth $5,284,000 after acquiring an additional 388 shares in the last quarter. Alpha Omega Wealth Management LLC raised its holdings in shares of Broadcom by 66.6% during the fourth quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock worth $4,756,000 after acquiring an additional 1,704 shares in the last quarter. CI Investments Inc. raised its holdings in shares of Broadcom by 89.4% during the third quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock worth $114,221,000 after acquiring an additional 64,912 shares in the last quarter. Finally, NatWest Group plc raised its holdings in shares of Broadcom by 8.2% during the fourth quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer’s stock worth $9,263,000 after acquiring an additional 631 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVGO. Cantor Fitzgerald increased their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. UBS Group raised their target price on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Barclays boosted their price target on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Finally, TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Stock Performance

AVGO traded up $49.65 on Friday, hitting $1,344.07. 2,409,983 shares of the stock traded hands, compared to its average volume of 2,322,994. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. 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 firm has a market capitalization of $622.87 billion, a PE ratio of 49.82, a P/E/G ratio of 2.63 and a beta of 1.25. The business has a fifty day moving average price of $1,306.70 and a two-hundred day moving average price of $1,134.07.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period in the previous year, the company posted $9.83 earnings per share. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. 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 currently 77.84%.

Insider Activity

In other news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $62,465.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justine Page sold 110 shares of the business’s 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 value of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,920 shares of company stock worth $40,306,667. Company insiders own 2.00% of the company’s stock.

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.