Capital Asset Advisory Services LLC Has $2.63 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Capital Asset Advisory Services LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,296 shares of the semiconductor manufacturer’s stock after buying an additional 164 shares during the period. Capital Asset Advisory Services LLC’s holdings in Broadcom were worth $2,627,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Dakota Community Bank & Trust NA grew its holdings in shares of Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after purchasing an additional 45 shares during the last quarter. Bryant Woods Investment Advisors LLC grew its holdings in Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after acquiring an additional 45 shares during the last quarter. Defined Wealth Management LLC increased its position in Broadcom by 0.4% in the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after acquiring an additional 47 shares during the period. Integrated Investment Consultants LLC raised its stake in shares of Broadcom by 0.9% during the fourth quarter. Integrated Investment Consultants LLC now owns 5,392 shares of the semiconductor manufacturer’s stock valued at $1,250,000 after acquiring an additional 47 shares during the last quarter. Finally, Register Financial Advisors LLC lifted its holdings in shares of Broadcom by 1.3% during the fourth quarter. Register Financial Advisors LLC now owns 3,693 shares of the semiconductor manufacturer’s stock worth $856,000 after purchasing an additional 47 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. 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. Susquehanna raised their target price on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 target price on shares of Broadcom in a report on Wednesday, December 11th. Barclays increased their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Jefferies Financial Group lifted their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $225.04.

Insider Activity at Broadcom

In related news, Director Diane M. Bryant sold 15,000 shares of the business’s 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 sale, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. The trade was a 69.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,278 shares of company stock worth $44,964,800. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of Broadcom stock opened at $206.35 on Thursday. The firm has a market capitalization of $967.24 billion, a P/E ratio of 168.31, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03. 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 business’s fifty day simple moving average is $210.37 and its 200 day simple moving average is $181.05. Broadcom Inc. has a 12 month low of $117.43 and a 12 month high of $251.88.

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 analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the firm earned $0.98 EPS. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 192.50%.

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.