Patriot Financial Group Insurance Agency LLC Buys 439 Shares of Broadcom Inc. (NASDAQ:AVGO)

Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,248 shares of the semiconductor manufacturer’s stock after purchasing an additional 439 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Broadcom were worth $3,303,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Park National Corp OH boosted its holdings in shares of Broadcom by 857.0% in the third quarter. Park National Corp OH now owns 10,938 shares of the semiconductor manufacturer’s stock worth $1,887,000 after buying an additional 9,795 shares during the last quarter. AMF Tjanstepension AB raised its position in Broadcom by 856.9% in the third quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock worth $175,101,000 after acquiring an additional 908,585 shares during the period. Czech National Bank boosted its stake in shares of Broadcom by 1,042.3% during the 3rd quarter. Czech National Bank now owns 948,249 shares of the semiconductor manufacturer’s stock worth $163,573,000 after acquiring an additional 865,238 shares during the last quarter. Silvia Mccoll Wealth Management LLC increased its stake in shares of Broadcom by 900.0% in the 3rd quarter. Silvia Mccoll Wealth Management LLC now owns 5,470 shares of the semiconductor manufacturer’s stock worth $944,000 after purchasing an additional 4,923 shares in the last quarter. Finally, Curbstone Financial Management Corp raised its holdings in Broadcom by 900.0% in the 3rd quarter. Curbstone Financial Management Corp now owns 5,440 shares of the semiconductor manufacturer’s stock worth $938,000 after purchasing an additional 4,896 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 2.6 %

Shares of NASDAQ AVGO opened at $221.27 on Friday. The stock has a market capitalization of $1.04 trillion, a P/E ratio of 180.48, a PEG ratio of 2.16 and a beta of 1.03. Broadcom Inc. has a 1-year low of $117.43 and a 1-year high of $251.88. The business’s 50 day moving average is $212.27 and its two-hundred day moving average is $181.58. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for 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%. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. As a group, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current 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 issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.07%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 192.50%.

Insider Buying and Selling

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Robert W. Baird boosted their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Piper Sandler upped their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective 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. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $225.04.

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.