D.B. Root & Company LLC Acquires 191 Shares of Broadcom Inc. (NASDAQ:AVGO)

D.B. Root & Company LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,525 shares of the semiconductor manufacturer’s stock after acquiring an additional 191 shares during the quarter. D.B. Root & Company LLC’s holdings in Broadcom were worth $1,281,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. First PREMIER Bank raised its holdings in Broadcom by 117.9% in the 4th quarter. First PREMIER Bank now owns 850 shares of the semiconductor manufacturer’s stock valued at $197,000 after buying an additional 460 shares during the last quarter. Echo45 Advisors LLC raised its position in shares of Broadcom by 9.8% in the 4th quarter. Echo45 Advisors LLC now owns 2,675 shares of the semiconductor manufacturer’s stock worth $622,000 after acquiring an additional 238 shares in the last quarter. True North Advisors LLC lifted its stake in Broadcom by 143.2% in the fourth quarter. True North Advisors LLC now owns 32,626 shares of the semiconductor manufacturer’s stock valued at $7,564,000 after buying an additional 19,212 shares during the period. Traynor Capital Management Inc. grew its holdings in Broadcom by 5.2% in the fourth quarter. Traynor Capital Management Inc. now owns 140,084 shares of the semiconductor manufacturer’s stock worth $32,477,000 after purchasing an additional 6,893 shares during the period. Finally, Independent Wealth Network Inc. grew its stake in Broadcom by 14.9% in the fourth quarter. Independent Wealth Network Inc. now owns 2,364 shares of the semiconductor manufacturer’s stock valued at $548,000 after acquiring an additional 306 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Cantor Fitzgerald lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Citigroup increased their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. TD Cowen increased their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Robert W. Baird lifted their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.83.

Broadcom Stock Up 1.8 %

Shares of NASDAQ:AVGO opened at $244.70 on Friday. The business has a fifty day moving average of $208.80 and a two-hundred day moving average of $180.62. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1.15 trillion, a P/E ratio of 199.59, a PEG ratio of 2.52 and a beta of 1.03. Broadcom Inc. has a 52-week low of $117.43 and a 52-week high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. On average, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 0.96%. Broadcom’s dividend payout ratio is 192.50%.

Insiders Place Their Bets

In other news, Director Check Kian Low sold 48,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % 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 worth $44,964,800 in the last ninety days. 2.00% of the stock is owned by corporate insiders.

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.