Howard Capital Management Inc. Has $60.06 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Howard Capital Management Inc. grew its position in Broadcom Inc. (NASDAQ:AVGO) by 9.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 259,062 shares of the semiconductor manufacturer’s stock after acquiring an additional 23,242 shares during the quarter. Broadcom makes up about 0.8% of Howard Capital Management Inc.’s investment portfolio, making the stock its 23rd largest holding. Howard Capital Management Inc.’s holdings in Broadcom were worth $60,061,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New England Professional Planning Group Inc. grew its stake in shares of Broadcom by 4.5% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,090 shares of the semiconductor manufacturer’s stock valued at $485,000 after buying an additional 90 shares in the last quarter. Wealthspire Advisors LLC lifted its stake in Broadcom by 6.1% in the fourth quarter. Wealthspire Advisors LLC now owns 41,508 shares of the semiconductor manufacturer’s stock valued at $9,623,000 after acquiring an additional 2,387 shares during the last quarter. TCW Group Inc. grew its position in Broadcom by 15.2% in the fourth quarter. TCW Group Inc. now owns 1,112,693 shares of the semiconductor manufacturer’s stock worth $257,967,000 after acquiring an additional 146,648 shares in the last quarter. FPC Investment Advisory Inc. increased its stake in shares of Broadcom by 6.5% during the 4th quarter. FPC Investment Advisory Inc. now owns 5,263 shares of the semiconductor manufacturer’s stock worth $1,165,000 after purchasing an additional 323 shares during the last quarter. Finally, JBR Co Financial Management Inc raised its holdings in shares of Broadcom by 3.2% during the 4th quarter. JBR Co Financial Management Inc now owns 1,937 shares of the semiconductor manufacturer’s stock valued at $449,000 after purchasing an additional 60 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AVGO shares. UBS Group upped their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Truist Financial upped their price target on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Bank of America boosted their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Citigroup increased their price target on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Insiders Place Their Bets

In other news, Director Harry L. You sold 6,540 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the sale, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 over the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 4.9 %

Broadcom stock opened at $207.93 on Tuesday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a market cap of $974.64 billion, a price-to-earnings ratio of 169.60, a price-to-earnings-growth ratio of 2.37 and a beta of 1.02. The business has a 50 day moving average price of $229.25 and a two-hundred day moving average price of $190.93. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The business’s revenue was up 51.2% compared to the same quarter last year. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.13%. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 192.50%.

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.