RB Capital Management LLC Buys 68 Shares of Broadcom Inc. (NASDAQ:AVGO)

RB Capital Management LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,964 shares of the semiconductor manufacturer’s stock after purchasing an additional 68 shares during the period. Broadcom makes up 0.9% of RB Capital Management LLC’s holdings, making the stock its 24th largest position. RB Capital Management LLC’s holdings in Broadcom were worth $3,308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Stuart Chaussee & Associates Inc. acquired a new stake in Broadcom in the 4th quarter valued at approximately $25,000. PSI Advisors LLC boosted its holdings in Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares during the last quarter. Macroview Investment Management LLC bought a new stake in Broadcom during the 3rd quarter worth about $29,000. BKM Wealth Management LLC acquired a new position in Broadcom during the fourth quarter valued at approximately $29,000. Finally, CKW Financial Group acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $30,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares in the company, valued at approximately $220,583,976. The sale was disclosed in a document filed with the SEC, which is available through this link. In other 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 transaction, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the sale, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 over the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 4.4 %

AVGO traded down $57.41 during midday trading on Wednesday, reaching $1,242.86. 3,037,614 shares of the company’s stock traded hands, compared to its average volume of 2,899,281. The stock has a market capitalization of $575.97 billion, a price-to-earnings ratio of 46.63, a P/E/G ratio of 2.72 and a beta of 1.25. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The firm has a fifty day moving average of $1,310.04 and a two-hundred day moving average of $1,143.82. 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 posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share 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 business had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the previous year, the firm posted $9.83 EPS. The business’s revenue was up 34.2% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid 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 1.69%. Broadcom’s dividend payout ratio is currently 77.84%.

Analysts Set New Price Targets

Several research firms have issued reports on AVGO. UBS Group upped their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Susquehanna lifted their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Evercore ISI assumed coverage on Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price for the company. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a report on Friday, January 19th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average 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.