Trueblood Wealth Management LLC Purchases 256 Shares of Broadcom Inc. (NASDAQ:AVGO)

Trueblood Wealth Management LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,818 shares of the semiconductor manufacturer’s stock after purchasing an additional 256 shares during the period. Trueblood Wealth Management LLC’s holdings in Broadcom were worth $1,349,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp lifted its holdings in shares of Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after acquiring an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC raised its holdings in Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after buying an additional 89,975,941 shares during the period. FMR LLC lifted its position in Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after buying an additional 82,998,328 shares during the last quarter. Jennison Associates LLC boosted its stake in Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after buying an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after acquiring an additional 30,674,902 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AVGO shares. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Morgan Stanley upped their price objective on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. Finally, Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.83.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This represents a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Up 1.2 %

Shares of AVGO stock opened at $240.31 on Wednesday. The stock’s fifty day moving average price is $203.18 and its 200 day moving average price is $178.65. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $117.43 and a 1-year high of $251.88. The company has a market cap of $1.13 trillion, a price-to-earnings ratio of 196.01, a price-to-earnings-growth ratio of 2.48 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 earnings per share. On average, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.98%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

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.