HM Payson & Co. Raises Stock Position in Broadcom Inc (NASDAQ:AVGO)

HM Payson & Co. grew its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,571 shares of the semiconductor manufacturer’s stock after purchasing an additional 13,493 shares during the period. Broadcom comprises about 1.5% of HM Payson & Co.’s portfolio, making the stock its 18th biggest position. HM Payson & Co.’s holdings in Broadcom were worth $46,319,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. State Street Corp boosted its stake in Broadcom by 0.9% in the 4th quarter. State Street Corp now owns 16,344,681 shares of the semiconductor manufacturer’s stock worth $5,165,246,000 after buying an additional 138,951 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in Broadcom by 35.0% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,907,456 shares of the semiconductor manufacturer’s stock valued at $602,751,000 after acquiring an additional 494,761 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Broadcom by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,780,511 shares of the semiconductor manufacturer’s stock valued at $562,678,000 after acquiring an additional 90,300 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Broadcom by 3.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,621,093 shares of the semiconductor manufacturer’s stock valued at $512,298,000 after acquiring an additional 48,090 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in Broadcom by 11.9% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,611,359 shares of the semiconductor manufacturer’s stock valued at $509,222,000 after acquiring an additional 171,373 shares during the last quarter. Institutional investors own 83.02% of the company’s stock.

A number of research firms recently weighed in on AVGO. Loop Capital upgraded shares of Broadcom from a “hold” rating to a “buy” rating and set a $260.00 target price on the stock in a report on Friday, March 13th. SunTrust Banks lowered their target price on shares of Broadcom from $366.00 to $300.00 and set a “buy” rating on the stock in a report on Friday, March 13th. They noted that the move was a valuation call. Oppenheimer upped their target price on shares of Broadcom from $315.00 to $350.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Piper Jaffray Companies restated a “buy” rating and issued a $345.00 target price (up previously from $330.00) on shares of Broadcom in a report on Tuesday, December 10th. Finally, Goldman Sachs Group lowered their target price on shares of Broadcom from $308.00 to $264.00 and set a “neutral” rating on the stock in a report on Friday, March 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-eight have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $313.81.

In other news, CEO Hock E. Tan sold 75,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $311.02, for a total value of $23,326,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 420,938 shares of company stock worth $121,050,177. 3.30% of the stock is currently owned by corporate insiders.

Broadcom stock traded up $23.84 during trading hours on Thursday, hitting $241.39. The stock had a trading volume of 1,535,245 shares, compared to its average volume of 5,157,263. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $85.06 billion, a P/E ratio of 39.83, a price-to-earnings-growth ratio of 1.13 and a beta of 0.87. Broadcom Inc has a 12-month low of $155.67 and a 12-month high of $331.58. The stock’s 50-day moving average price is $271.75 and its 200-day moving average price is $294.91.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 12th. The semiconductor manufacturer reported $5.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.33 by ($0.08). The business had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $5.99 billion. Broadcom had a net margin of 11.64% and a return on equity of 69.53%. Broadcom’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $5.55 EPS. On average, research analysts expect that Broadcom Inc will post 18.07 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be paid a dividend of $3.25 per share. The ex-dividend date of this dividend is Friday, March 20th. This represents a $13.00 annualized dividend and a yield of 5.39%. Broadcom’s dividend payout ratio (DPR) is presently 74.67%.

Broadcom Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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