Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 271,291 shares of the semiconductor manufacturer’s stock after purchasing an additional 15,214 shares during the period. Broadcom comprises approximately 1.6% of Bank Julius Baer & Co. Ltd Zurich’s investment portfolio, making the stock its 15th biggest holding. Bank Julius Baer & Co. Ltd Zurich’s holdings in Broadcom were worth $302,828,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. PSI Advisors LLC lifted its position in Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares during the period. Macroview Investment Management LLC purchased a new stake in shares of Broadcom during the third quarter worth about $29,000. BKM Wealth Management LLC purchased a new stake in Broadcom during the 4th quarter valued at about $29,000. CKW Financial Group purchased a new stake in Broadcom during the 4th quarter valued at about $30,000. Finally, Bfsg LLC purchased a new stake in Broadcom during the 4th quarter valued at about $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In related news, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadcom news, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the sale, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AVGO. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Barclays increased their price objective on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Evercore ISI initiated coverage on shares of Broadcom in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price objective on the stock. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Stock Performance

Shares of AVGO stock traded up $37.60 during mid-day trading on Thursday, hitting $1,294.42. The stock had a trading volume of 3,035,701 shares, compared to its average volume of 2,942,063. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The firm has a market cap of $599.86 billion, a PE ratio of 47.94, a PEG ratio of 2.55 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The company’s 50-day simple moving average is $1,304.15 and its 200-day simple moving average is $1,129.53.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter last year, the business earned $9.83 EPS. The business’s revenue was up 34.2% on a year-over-year basis. Sell-side analysts anticipate that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is 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.