Achmea Investment Management B.V. Grows Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Achmea Investment Management B.V. grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 373,421 shares of the semiconductor manufacturer’s stock after buying an additional 50,473 shares during the quarter. Broadcom accounts for approximately 1.4% of Achmea Investment Management B.V.’s holdings, making the stock its 7th largest position. Achmea Investment Management B.V.’s holdings in Broadcom were worth $86,574,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mascoma Wealth Management LLC increased its stake in shares of Broadcom by 17.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 1,604 shares of the semiconductor manufacturer’s stock worth $372,000 after purchasing an additional 244 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Broadcom by 17.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 659,734 shares of the semiconductor manufacturer’s stock worth $152,953,000 after purchasing an additional 98,292 shares in the last quarter. Rakuten Securities Inc. increased its stake in shares of Broadcom by 124.3% in the 4th quarter. Rakuten Securities Inc. now owns 48,214 shares of the semiconductor manufacturer’s stock worth $11,178,000 after purchasing an additional 26,721 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Broadcom by 6.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 256,049 shares of the semiconductor manufacturer’s stock worth $59,362,000 after purchasing an additional 15,193 shares in the last quarter. Finally, Essential Planning LLC. purchased a new stake in shares of Broadcom in the 4th quarter worth $7,171,000. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Up 2.2 %

Shares of AVGO opened at $194.23 on Thursday. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a 50-day moving average of $219.67 and a 200 day moving average of $193.45. The firm has a market capitalization of $913.26 billion, a price-to-earnings ratio of 158.43, a PEG ratio of 2.29 and a beta of 1.01. 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 announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the business posted $0.98 EPS. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.22%. Broadcom’s payout ratio is 113.46%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AVGO shares. Benchmark restated a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Truist Financial boosted their price objective on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. increased their target price on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Finally, Morgan Stanley increased their price objective on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $231.48.

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.