Investors Asset Management of Georgia Inc. GA ADV Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Investors Asset Management of Georgia Inc. GA ADV increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 3.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 567 shares of the semiconductor manufacturer’s stock after purchasing an additional 21 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Broadcom were worth $633,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank purchased a new stake in Broadcom during the fourth quarter valued at about $2,222,676,000. Moneta Group Investment Advisors LLC grew its position in Broadcom by 122,794.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock valued at $2,050,420,000 after acquiring an additional 3,664,177 shares during the period. International Assets Investment Management LLC grew its position in Broadcom by 113,495.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after acquiring an additional 3,324,288 shares during the period. Providence Capital Advisors LLC grew its position in Broadcom by 49,919.1% during the first quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock valued at $3,799,000 after acquiring an additional 2,432,559 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Broadcom by 43.9% during the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after purchasing an additional 1,228,755 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the transaction, the director now directly owns 45 shares in the company, valued at $62,465.85. The transaction was disclosed in a filing with the SEC, which is available through this link. In other 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 transaction, the director now directly owns 45 shares in the company, valued at $62,465.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares in the company, valued at $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 three months. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Susquehanna boosted their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Barclays upped their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Stock Down 1.3 %

Shares of NASDAQ:AVGO traded down $16.32 during midday trading on Thursday, hitting $1,266.31. 1,139,303 shares of the stock were exchanged, compared to its average volume of 2,929,828. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The business’s fifty day simple moving average is $1,307.00 and its two-hundred day simple moving average is $1,115.19. The company has a market capitalization of $586.83 billion, a PE ratio of 47.70, a P/E/G ratio of 2.71 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $11.79 billion. During the same period last year, the company earned $9.83 earnings per share. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. As a group, research analysts predict that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.66%. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

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.