Bridge Creek Capital Management LLC Invests $226,000 in Broadcom Inc. (NASDAQ:AVGO)

Bridge Creek Capital Management LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 975 shares of the semiconductor manufacturer’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Accelerate Investment Advisors LLC grew its holdings in Broadcom by 58.7% during the 4th quarter. Accelerate Investment Advisors LLC now owns 2,070 shares of the semiconductor manufacturer’s stock valued at $480,000 after buying an additional 766 shares in the last quarter. Cooper Financial Group grew its stake in Broadcom by 7.1% during the fourth quarter. Cooper Financial Group now owns 58,475 shares of the semiconductor manufacturer’s stock valued at $13,557,000 after acquiring an additional 3,861 shares in the last quarter. Wedmont Private Capital lifted its stake in Broadcom by 10.6% in the 4th quarter. Wedmont Private Capital now owns 50,228 shares of the semiconductor manufacturer’s stock worth $11,267,000 after purchasing an additional 4,816 shares in the last quarter. Westmount Partners LLC boosted its holdings in Broadcom by 0.6% in the 4th quarter. Westmount Partners LLC now owns 48,419 shares of the semiconductor manufacturer’s stock valued at $11,225,000 after purchasing an additional 290 shares during the period. Finally, Salem Investment Counselors Inc. boosted its holdings in Broadcom by 5.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 28,740 shares of the semiconductor manufacturer’s stock valued at $6,663,000 after purchasing an additional 1,604 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

NASDAQ:AVGO opened at $225.29 on Tuesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a fifty-two week low of $109.02 and a fifty-two week high of $251.88. The business has a 50 day moving average price of $198.03 and a 200-day moving average price of $176.17. The firm has a market cap of $1.06 trillion, a PE ratio of 195.73, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.05%. Broadcom’s dividend payout ratio is presently 191.87%.

Insiders Place Their Bets

In related news, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares in the company, valued at $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Cantor Fitzgerald lifted their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. UBS Group upped their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Morgan Stanley increased their price target on shares of Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $223.54.

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.