AGF Management Ltd. Has $407.29 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

AGF Management Ltd. boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 80.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,756,755 shares of the semiconductor manufacturer’s stock after purchasing an additional 782,527 shares during the quarter. Broadcom comprises 2.1% of AGF Management Ltd.’s holdings, making the stock its 7th largest holding. AGF Management Ltd.’s holdings in Broadcom were worth $407,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of AVGO. Canton Hathaway LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom in the 4th quarter valued at about $26,000. Bellevue Asset Management LLC acquired a new position in Broadcom during the fourth quarter worth $33,000. Pin Oak Investment Advisors Inc. increased its position in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Finally, Synergy Investment Management LLC acquired a new stake in Broadcom during the fourth quarter worth $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 5.4 %

AVGO stock opened at $184.45 on Tuesday. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The business’s fifty day moving average price is $221.26 and its two-hundred day moving average price is $193.28. The stock has a market capitalization of $867.27 billion, a price-to-earnings ratio of 150.45, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 earnings per share. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.28%. Broadcom’s payout ratio is 113.46%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVGO. Citigroup increased their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Mizuho reduced their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Jefferies Financial Group boosted their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $231.48.

Insider Activity at Broadcom

In other news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last 90 days. Insiders own 2.00% of the company’s stock.

Broadcom 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.