Citizens Financial Group Inc. RI Has $4.32 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Citizens Financial Group Inc. RI raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 44.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,865 shares of the semiconductor manufacturer’s stock after buying an additional 1,188 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Broadcom were worth $4,315,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AVGO. International Assets Investment Management LLC lifted its stake in 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 valued at $37,140,060,000 after buying an additional 3,324,288 shares during the period. Wellington Management Group LLP raised its position in shares of Broadcom by 43.9% during 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 period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Broadcom during the third quarter worth approximately $560,563,000. FMR LLC raised its position in shares of Broadcom by 16.7% during the third quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after purchasing an additional 573,826 shares during the period. Finally, Invesco Ltd. raised its position in shares of Broadcom by 19.1% during the third quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after purchasing an additional 514,120 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Justine Page sold 110 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,920 shares of company stock valued at $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AVGO. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. Mizuho upped their price target on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Barclays upped their price target on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Finally, Benchmark reiterated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Stock Performance

Shares of AVGO stock traded up $49.65 on Friday, hitting $1,344.07. 2,409,983 shares of the stock were exchanged, compared to its average volume of 2,322,994. 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. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The firm’s 50 day moving average is $1,306.70 and its two-hundred day moving average is $1,134.07.

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

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $5.25 per share. 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 1.56%. Broadcom’s dividend payout ratio (DPR) is 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.