Broadcom Inc. (NASDAQ:AVGO) Stake Boosted by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 5.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 271,291 shares of the semiconductor manufacturer’s stock after purchasing an additional 15,214 shares during the period. Broadcom makes up about 1.6% of Bank Julius Baer & Co. Ltd Zurich’s portfolio, making the stock its 15th largest holding. Bank Julius Baer & Co. Ltd Zurich owned 0.06% of Broadcom worth $302,828,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AVGO. Impact Partnership Wealth LLC grew its position in Broadcom by 151.8% during the third quarter. Impact Partnership Wealth LLC now owns 141 shares of the semiconductor manufacturer’s stock worth $117,000 after buying an additional 85 shares in the last quarter. Boston Trust Walden Corp raised its position in Broadcom by 0.6% in the 3rd quarter. Boston Trust Walden Corp now owns 2,381 shares of the semiconductor manufacturer’s stock worth $1,978,000 after purchasing an additional 15 shares during the last quarter. Strategic Blueprint LLC grew its holdings in Broadcom by 8.1% during the 3rd quarter. Strategic Blueprint LLC now owns 1,058 shares of the semiconductor manufacturer’s stock worth $879,000 after acquiring an additional 79 shares during the period. Washington Trust Advisors Inc. grew its holdings in Broadcom by 87.0% during the 3rd quarter. Washington Trust Advisors Inc. now owns 288 shares of the semiconductor manufacturer’s stock worth $239,000 after acquiring an additional 134 shares during the period. Finally, Capital Asset Advisory Services LLC grew its holdings in shares of Broadcom by 6.1% in the 3rd quarter. Capital Asset Advisory Services LLC now owns 830 shares of the semiconductor manufacturer’s stock valued at $726,000 after buying an additional 48 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on AVGO shares. Mizuho boosted their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Monday, April 8th. Finally, Barclays upped 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 note on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Buying and Selling at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the sale, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. 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 ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

AVGO traded up $37.60 on Thursday, hitting $1,294.42. 3,035,701 shares of the company’s stock traded hands, compared to its average volume of 2,942,063. The company’s 50 day simple moving average is $1,304.15 and its 200-day simple moving average is $1,129.53. The firm has a market cap of $599.86 billion, a price-to-earnings ratio of 47.94, a P/E/G ratio of 2.55 and a beta of 1.25. Broadcom Inc. has a one year low of $601.29 and a one year 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.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.83 EPS. As a group, research analysts anticipate that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

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.