Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Intact Investment Management Inc.

Intact Investment Management Inc. grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,430 shares of the semiconductor manufacturer’s stock after purchasing an additional 40 shares during the period. Intact Investment Management Inc.’s holdings in Broadcom were worth $20,572,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. CX Institutional grew its position in shares of Broadcom by 2.7% during the third quarter. CX Institutional now owns 1,279 shares of the semiconductor manufacturer’s stock worth $1,062,000 after acquiring an additional 34 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Broadcom by 25.2% during the third quarter. Ballentine Partners LLC now owns 5,494 shares of the semiconductor manufacturer’s stock worth $4,563,000 after acquiring an additional 1,107 shares during the last quarter. KRS Capital Management LLC grew its position in shares of Broadcom by 28.1% during the third quarter. KRS Capital Management LLC now owns 1,091 shares of the semiconductor manufacturer’s stock worth $906,000 after acquiring an additional 239 shares during the last quarter. Oak Harbor Wealth Partners LLC grew its position in shares of Broadcom by 6.2% during the third quarter. Oak Harbor Wealth Partners LLC now owns 1,820 shares of the semiconductor manufacturer’s stock worth $1,512,000 after acquiring an additional 107 shares during the last quarter. Finally, Walkner Condon Financial Advisors LLC grew its position in shares of Broadcom by 7.9% during the third quarter. Walkner Condon Financial Advisors LLC now owns 343 shares of the semiconductor manufacturer’s stock worth $285,000 after acquiring an additional 25 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Up 3.8 %

AVGO stock traded up $49.65 during mid-day trading on Friday, reaching $1,344.07. 2,409,983 shares of the stock traded hands, compared to its average volume of 2,322,994. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The company has a market cap of $622.87 billion, a P/E ratio of 49.82, a P/E/G ratio of 2.63 and a beta of 1.25. The stock’s fifty day moving average is $1,306.70 and its 200-day moving average is $1,134.07.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $11.79 billion. During the same period in the prior year, the firm earned $9.83 earnings per share. The business’s quarterly revenue was up 34.2% on a year-over-year basis. As a group, sell-side analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research report on Monday, April 8th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Oppenheimer reiterated an “outperform” rating and issued a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Barclays increased their target price 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. Finally, Cantor Fitzgerald increased their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $1,367.52, for a total value of $3,418,800.00. Following the completion of the sale, the insider now directly owns 44,474 shares of the company’s stock, valued at $60,819,084.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by corporate insiders.

About Broadcom

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.