Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Lifted by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 17,975 shares of the semiconductor manufacturer’s stock after buying an additional 1,429 shares during the period. Perennial Investment Advisors LLC’s holdings in Broadcom were worth $4,167,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Howard Capital Management Group LLC grew its holdings in Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after purchasing an additional 2,908 shares during the last quarter. Principal Financial Group Inc. grew its stake in Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after buying an additional 6,540,800 shares during the last quarter. Redwood Investment Management LLC raised its holdings in Broadcom by 319.2% in the 3rd quarter. Redwood Investment Management LLC now owns 3,748 shares of the semiconductor manufacturer’s stock worth $647,000 after acquiring an additional 2,854 shares during the period. Quarry LP boosted its holdings in Broadcom by 396.7% during the third quarter. Quarry LP now owns 1,058 shares of the semiconductor manufacturer’s stock valued at $183,000 after acquiring an additional 845 shares during the period. Finally, Stansberry Asset Management LLC increased its stake in shares of Broadcom by 828.6% in the third quarter. Stansberry Asset Management LLC now owns 2,210 shares of the semiconductor manufacturer’s stock worth $381,000 after purchasing an additional 1,972 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Down 5.0 %

AVGO stock opened at $146.29 on Friday. The business has a fifty day moving average price of $201.57 and a 200 day moving average price of $195.95. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The stock has a market capitalization of $687.85 billion, a price-to-earnings ratio of 119.32, a P/E/G ratio of 2.29 and a beta of 1.05.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.61%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 745,976 shares of company stock valued at $138,632,902 over the last ninety days. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AVGO shares. Deutsche Bank Aktiengesellschaft raised their target price on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. KeyCorp upped their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Barclays raised their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Jefferies Financial Group upped their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Robert W. Baird boosted their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.48.

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.