Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by AIA Group Ltd

AIA Group Ltd increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,064 shares of the semiconductor manufacturer’s stock after acquiring an additional 897 shares during the quarter. Broadcom makes up about 0.8% of AIA Group Ltd’s holdings, making the stock its 25th biggest position. AIA Group Ltd’s holdings in Broadcom were worth $20,164,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AVGO. RMR Wealth Builders grew its position in Broadcom by 6.5% in the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after buying an additional 388 shares during the last quarter. Czech National Bank grew its position in Broadcom by 46.1% in the 3rd quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock valued at $59,909,000 after buying an additional 22,774 shares during the last quarter. Alpha Omega Wealth Management LLC grew its position in Broadcom by 66.6% in the 4th quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock valued at $4,756,000 after buying an additional 1,704 shares during the last quarter. CI Investments Inc. boosted its position in shares of 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 purchasing an additional 64,912 shares in the last quarter. Finally, NatWest Group plc boosted its position in shares of 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 purchasing an additional 631 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research analyst reports. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. The Goldman Sachs Group restated a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. Oppenheimer restated an “outperform” rating and set a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, Barclays boosted their price objective on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Activity

In other news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were 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 owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were 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 owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the transaction, the insider now directly owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

AVGO stock traded down $19.88 during trading on Thursday, hitting $1,262.75. The stock had a trading volume of 1,488,193 shares, compared to its average volume of 2,933,378. The company’s 50 day moving average price is $1,307.00 and its two-hundred day moving average price is $1,115.19. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The stock has a market cap of $585.18 billion, a price-to-earnings ratio of 47.70, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the prior year, the company posted $9.83 EPS. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, sell-side analysts forecast that Broadcom Inc. will post 35.88 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 dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

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.