Veracity Capital LLC Has $2.42 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Veracity Capital LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 10,440 shares of the semiconductor manufacturer’s stock after buying an additional 754 shares during the period. Broadcom makes up 0.9% of Veracity Capital LLC’s investment portfolio, making the stock its 16th biggest holding. Veracity Capital LLC’s holdings in Broadcom were worth $2,420,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in AVGO. Secure Asset Management LLC raised its holdings in Broadcom by 16.2% in the 4th quarter. Secure Asset Management LLC now owns 5,571 shares of the semiconductor manufacturer’s stock valued at $1,292,000 after acquiring an additional 778 shares in the last quarter. Red Door Wealth Management LLC increased its position in shares of Broadcom by 84.6% during the fourth quarter. Red Door Wealth Management LLC now owns 6,422 shares of the semiconductor manufacturer’s stock valued at $1,489,000 after purchasing an additional 2,943 shares during the period. IVC Wealth Advisors LLC lifted its position in Broadcom by 8.3% in the fourth quarter. IVC Wealth Advisors LLC now owns 2,596 shares of the semiconductor manufacturer’s stock worth $602,000 after purchasing an additional 199 shares during the period. Capital Planning Advisors LLC boosted its stake in Broadcom by 7.1% during the fourth quarter. Capital Planning Advisors LLC now owns 30,627 shares of the semiconductor manufacturer’s stock worth $7,101,000 after buying an additional 2,037 shares in the last quarter. Finally, Edge Financial Advisors LLC bought a new stake in Broadcom in the 4th quarter valued at $251,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

AVGO stock opened at $244.70 on Friday. 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 Inc. has a twelve month low of $117.43 and a twelve month high of $251.88. The business’s fifty day moving average is $208.80 and its 200-day moving average is $180.62. The company has a market cap of $1.15 trillion, a P/E ratio of 199.59, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03.

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. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 EPS. Equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.96%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 192.50%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AVGO. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Evercore ISI lifted their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Mizuho raised their target price on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Morgan Stanley boosted their price target on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three investment 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, the stock has an average rating of “Moderate Buy” and an average price target of $225.83.

Insiders Place Their Bets

In other news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction dated 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 owns 30,450 shares in the company, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,278 shares of company stock worth $44,964,800. 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.