Schnieders Capital Management LLC Invests $682,000 in Broadcom Inc. (NASDAQ:AVGO)

Schnieders Capital Management LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, HoldingsChannel reports. The firm acquired 611 shares of the semiconductor manufacturer’s stock, valued at approximately $682,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. International Assets Investment Management LLC increased its holdings in shares of Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after acquiring an additional 3,324,288 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Broadcom by 43.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after acquiring an additional 1,228,755 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Broadcom during the 3rd quarter worth approximately $560,563,000. FMR LLC increased its holdings in shares of Broadcom by 16.7% during the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after acquiring an additional 573,826 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Broadcom by 19.1% during the 3rd quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after acquiring an additional 514,120 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 2.0 %

Broadcom stock traded up $24.73 during trading hours on Tuesday, hitting $1,249.19. The stock had a trading volume of 2,198,693 shares, compared to its average volume of 2,952,703. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The stock has a market cap of $578.90 billion, a price-to-earnings ratio of 46.30, a P/E/G ratio of 2.46 and a beta of 1.25. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The business’s 50 day simple moving average is $1,304.25 and its 200-day simple moving average is $1,128.64.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same period last year, the company earned $9.83 earnings per share. The firm’s revenue was up 34.2% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.68%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the transaction, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the sale, the insider now owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 over the last ninety days. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on AVGO. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Barclays upped their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a report on Friday, January 19th. Finally, Evercore ISI initiated coverage on Broadcom in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

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.