JBR Co Financial Management Inc Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

JBR Co Financial Management Inc grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,937 shares of the semiconductor manufacturer’s stock after acquiring an additional 60 shares during the period. JBR Co Financial Management Inc’s holdings in Broadcom were worth $449,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AVGO. AMF Tjanstepension AB grew its holdings in shares of Broadcom by 856.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock worth $175,101,000 after acquiring an additional 908,585 shares during the period. Alpha Financial Partners LLC purchased a new position in shares of Broadcom during the 3rd quarter worth approximately $404,000. Wealth Group Ltd. grew its holdings in shares of Broadcom by 900.0% during the 3rd quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock worth $304,000 after acquiring an additional 1,584 shares during the period. Swedbank AB grew its holdings in shares of Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares during the period. Finally, Howard Capital Management Group LLC grew its holdings in shares of Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after acquiring an additional 2,908 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $207.93 on Tuesday. The firm has a market cap of $974.64 billion, a PE ratio of 169.60, a P/E/G ratio of 2.37 and a beta of 1.02. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm has a fifty day simple moving average of $229.25 and a two-hundred day simple moving average of $190.93. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion during 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%. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Jefferies Financial Group upped their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Truist Financial boosted their price target on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. TD Cowen boosted their price target on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued 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 price target of $225.04.

Insider Transactions at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction 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 in the company, valued at $26,606,317.50. This represents a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction 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 sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last three months. Corporate insiders own 2.00% of the company’s stock.

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.