Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Bank of New Hampshire

Bank of New Hampshire boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 41.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 820 shares of the semiconductor manufacturer’s stock after purchasing an additional 240 shares during the quarter. Bank of New Hampshire’s holdings in Broadcom were worth $190,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Kiely Wealth Advisory Group Inc. purchased a new stake in Broadcom during the 2nd quarter worth approximately $128,000. Mark Sheptoff Financial Planning LLC acquired a new position in Broadcom in the 2nd quarter valued at $136,000. WPWealth LLP purchased a new position in Broadcom in the 2nd quarter valued at $204,000. AIMZ Investment Advisors LLC acquired a new stake in Broadcom during the 2nd quarter worth $207,000. Finally, Inspire Advisors LLC purchased a new stake in shares of Broadcom during the second quarter worth $211,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Down 3.3 %

Broadcom stock opened at $228.64 on Wednesday. The firm has a market capitalization of $1.07 trillion, a P/E ratio of 198.64, a P/E/G ratio of 2.15 and a beta of 1.03. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a twelve month low of $105.20 and a twelve month high of $251.88. The stock’s fifty day simple moving average is $193.55 and its 200-day simple moving average is $174.58.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 EPS. As a group, equities analysts expect that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.03%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 191.87%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. William Blair began coverage on Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Truist Financial upped their target price on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Evercore ISI boosted their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $221.88.

Insiders Place Their Bets

In other news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 155,228 shares of company stock worth $35,643,408 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Company 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.