Aviance Capital Partners LLC Acquires 1,182 Shares of Broadcom Inc. (NASDAQ:AVGO)

Aviance Capital Partners LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,083 shares of the semiconductor manufacturer’s stock after buying an additional 1,182 shares during the period. Broadcom makes up approximately 3.6% of Aviance Capital Partners LLC’s holdings, making the stock its 3rd largest position. Aviance Capital Partners LLC’s holdings in Broadcom were worth $16,836,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Northern Trust Corp boosted its holdings in shares of Broadcom by 2.1% in the third quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock valued at $3,866,684,000 after acquiring an additional 93,615 shares in the last quarter. Wellington Management Group LLP lifted its position in Broadcom by 43.9% in the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after purchasing an additional 1,228,755 shares during the period. FMR LLC boosted its holdings in Broadcom by 16.7% in the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock valued at $3,338,203,000 after purchasing an additional 573,826 shares in the last quarter. International Assets Investment Management LLC increased its position in Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after purchasing an additional 3,324,288 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Broadcom by 19.1% during the 3rd quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after buying an additional 514,120 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Cantor Fitzgerald lifted their price target on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Evercore ISI assumed coverage on shares of Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price on the stock. UBS Group increased their price target on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Rosenblatt Securities reissued a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Finally, 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. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Transactions at Broadcom

In other Broadcom news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now owns 45 shares in the company, valued at approximately $62,465.85. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction on 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 sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 over the last quarter. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

AVGO stock traded up $32.20 during trading on Monday, hitting $1,310.31. The stock had a trading volume of 1,627,126 shares, compared to its average volume of 2,890,694. The stock has a market cap of $607.22 billion, a price-to-earnings ratio of 48.57, a price-to-earnings-growth ratio of 2.60 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. The company’s 50 day moving average price is $1,308.68 and its two-hundred day moving average price is $1,154.58. Broadcom Inc. has a 1-year low of $615.86 and a 1-year high of $1,438.17.

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 analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s revenue was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.83 earnings per share. On average, sell-side analysts forecast that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared 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. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio 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.