Intact Investment Management Inc. Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Intact Investment Management Inc. increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,430 shares of the semiconductor manufacturer’s stock after purchasing an additional 40 shares during the period. Intact Investment Management Inc.’s holdings in Broadcom were worth $20,572,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. CX Institutional raised its holdings in shares of Broadcom by 2.7% during the 3rd quarter. CX Institutional now owns 1,279 shares of the semiconductor manufacturer’s stock worth $1,062,000 after acquiring an additional 34 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of Broadcom by 25.2% during the 3rd quarter. Ballentine Partners LLC now owns 5,494 shares of the semiconductor manufacturer’s stock valued at $4,563,000 after acquiring an additional 1,107 shares during the last quarter. KRS Capital Management LLC boosted its position in shares of Broadcom by 28.1% during the 3rd quarter. KRS Capital Management LLC now owns 1,091 shares of the semiconductor manufacturer’s stock valued at $906,000 after acquiring an additional 239 shares during the last quarter. Oak Harbor Wealth Partners LLC boosted its position in shares of Broadcom by 6.2% during the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 1,820 shares of the semiconductor manufacturer’s stock valued at $1,512,000 after acquiring an additional 107 shares during the last quarter. Finally, Walkner Condon Financial Advisors LLC boosted its position in shares of Broadcom by 7.9% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 343 shares of the semiconductor manufacturer’s stock valued at $285,000 after acquiring an additional 25 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 3.8 %

AVGO traded up $49.65 on Friday, hitting $1,344.07. The company had a trading volume of 2,409,983 shares, compared to its average volume of 2,322,994. The stock has a fifty day moving average price of $1,306.70 and a 200-day moving average price of $1,134.07. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The stock has a market capitalization of $622.87 billion, a price-to-earnings ratio of 49.82, a P/E/G ratio of 2.63 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its 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 company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the previous year, the firm earned $9.83 earnings per share. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. Analysts predict that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the firm’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 sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the firm’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 sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on AVGO shares. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Oppenheimer restated 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. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Barclays raised 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, Mizuho raised their price target on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

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.