Broadcom Inc. (NASDAQ:AVGO) Stock Position Increased by abrdn plc

abrdn plc lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,530,084 shares of the semiconductor manufacturer’s stock after purchasing an additional 270,574 shares during the quarter. Broadcom comprises 1.6% of abrdn plc’s holdings, making the stock its 8th largest position. abrdn plc owned approximately 0.08% of Broadcom worth $831,794,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AMF Tjanstepension AB grew its position in 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 purchasing an additional 908,585 shares during the period. Alpha Financial Partners LLC acquired a new stake in Broadcom during the third quarter worth about $404,000. City Holding Co. raised its position in Broadcom by 1,464.7% during the third quarter. City Holding Co. now owns 1,330 shares of the semiconductor manufacturer’s stock valued at $229,000 after acquiring an additional 1,245 shares in the last quarter. Brookstone Capital Management lifted its holdings in Broadcom by 9.5% in the third quarter. Brookstone Capital Management now owns 38,803 shares of the semiconductor manufacturer’s stock valued at $6,693,000 after acquiring an additional 3,380 shares during the period. Finally, First PREMIER Bank boosted its position in Broadcom by 1,952.6% in the 3rd quarter. First PREMIER Bank now owns 390 shares of the semiconductor manufacturer’s stock worth $67,000 after purchasing an additional 371 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $231.36 on Friday. The stock has a market cap of $1.08 trillion, a price-to-earnings ratio of 188.71, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a 50 day simple moving average of $217.07 and a 200-day simple moving average of $183.40. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

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

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.02%. 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 (DPR) is 192.50%.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now owns 696,730 shares of the company’s stock, valued at approximately $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 this hyperlink. Also, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the transaction, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. 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 three months. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AVGO shares. Truist Financial boosted their target price on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Robert W. Baird upped their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Benchmark restated a “buy” rating and set a $255.00 target price (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Finally, Barclays raised their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

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.