Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Lifted by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,767 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,062 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Broadcom were worth $39,925,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Northern Trust Corp grew its stake in Broadcom by 2.1% during the 3rd quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock valued at $3,866,684,000 after acquiring an additional 93,615 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Broadcom by 43.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after buying an additional 1,228,755 shares during the period. FMR LLC grew its holdings in shares of Broadcom by 16.7% during the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock valued at $3,338,203,000 after acquiring an additional 573,826 shares in the last quarter. International Assets Investment Management LLC boosted its position in Broadcom by 113,495.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after purchasing an additional 3,324,288 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Broadcom by 19.1% in the third quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock valued at $2,663,339,000 after purchasing an additional 514,120 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO traded down $7.20 on Tuesday, hitting $1,303.11. The company’s stock had a trading volume of 1,240,937 shares, compared to its average volume of 2,871,969. The company has a 50 day moving average price of $1,308.82 and a 200 day moving average price of $1,157.75. Broadcom Inc. has a fifty-two week low of $615.86 and a fifty-two week high of $1,438.17. The company has a market capitalization of $603.89 billion, a PE ratio of 48.30, a PEG ratio of 2.60 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

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, topping the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.83 EPS. On average, research 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 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 yield of 1.61%. Broadcom’s payout ratio is 77.84%.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the transaction, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction 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 sale, the insider now directly owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were 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 owns 45 shares of the company’s stock, valued at approximately $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 over the last 90 days. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several analyst reports. Barclays increased their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. UBS Group boosted their price objective on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Susquehanna raised their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Mizuho raised their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

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.