Meiji Yasuda Life Insurance Co Has $7.83 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Meiji Yasuda Life Insurance Co reduced its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,876 shares of the semiconductor manufacturer’s stock after selling 324 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Broadcom were worth $7,829,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AVGO. Legend Financial Advisors Inc. increased its holdings in Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares during the period. Richardson Capital Management LLC acquired a new stake in shares of Broadcom in the first quarter valued at about $29,000. Delta Asset Management LLC TN raised its position in shares of Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new position in shares of Broadcom in the first quarter worth approximately $36,000. Finally, Ulland Investment Advisors LLC bought a new stake in Broadcom in the first quarter valued at approximately $37,000. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, Director Justine Page sold 2,540 shares of Broadcom stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $175.03, for a total transaction of $444,566.04. Following the sale, the director now directly owns 27,480 shares in the company, valued at approximately $4,809,714.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the sale, the director now owns 27,480 shares in the company, valued at $4,809,714.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the sale, the chief executive officer now directly owns 138,191 shares in the company, valued at approximately $235,746,936.45. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $162.47 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a 50-day moving average of $157.17 and a 200-day moving average of $146.21. Broadcom Inc. has a one year low of $79.51 and a one year high of $185.16. The company has a market cap of $756.28 billion, a P/E ratio of 6.99, a P/E/G ratio of 2.55 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the business posted $0.95 EPS. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. Equities research analysts forecast that Broadcom Inc. will post 3.77 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be issued a dividend of $0.53 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of Broadcom in a research report on Friday, September 6th. Sanford C. Bernstein upped their price target on shares of Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday. Jefferies Financial Group boosted their price objective on Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Finally, JPMorgan Chase & Co. raised their target price on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.23.

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.