Northstar Advisory Group LLC Makes New $1.13 Million Investment in Broadcom Inc. (NASDAQ:AVGO)

Northstar Advisory Group LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,868 shares of the semiconductor manufacturer’s stock, valued at approximately $1,129,000.

Several other large investors have also modified their holdings of the business. Conrad Siegel Investment Advisors Inc. raised its holdings in Broadcom by 18.5% in the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 1,729 shares of the semiconductor manufacturer’s stock valued at $401,000 after buying an additional 270 shares during the period. Sunflower Bank N.A. increased its position in shares of Broadcom by 14.6% during the fourth quarter. Sunflower Bank N.A. now owns 6,067 shares of the semiconductor manufacturer’s stock valued at $1,407,000 after acquiring an additional 772 shares during the last quarter. Burns J W & Co. Inc. NY raised its stake in shares of Broadcom by 31.3% in the 4th quarter. Burns J W & Co. Inc. NY now owns 9,180 shares of the semiconductor manufacturer’s stock valued at $2,128,000 after acquiring an additional 2,190 shares during the period. Davis Investment Partners LLC acquired a new position in shares of Broadcom in the 4th quarter worth approximately $309,000. Finally, Heritage Wealth Partners LLC boosted its position in shares of Broadcom by 14.0% during the 4th quarter. Heritage Wealth Partners LLC now owns 6,742 shares of the semiconductor manufacturer’s stock worth $1,563,000 after purchasing an additional 829 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on AVGO shares. Deutsche Bank Aktiengesellschaft upped their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and set a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Susquehanna boosted their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Bank of America raised their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, TD Cowen upped their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $223.54.

Broadcom Stock Up 0.4 %

Shares of NASDAQ:AVGO opened at $225.29 on Tuesday. The firm has a 50 day simple moving average of $198.03 and a 200-day simple moving average of $176.17. Broadcom Inc. has a twelve month low of $109.02 and a twelve month high of $251.88. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $1.06 trillion, a PE ratio of 195.73, a P/E/G 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 for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. On average, equities analysts predict that Broadcom Inc. will post 3.79 EPS for the current fiscal 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 paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Insider Buying and Selling

In related news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 113,050 shares of the company’s stock, 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 filing with the SEC, which is available through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last quarter. 2.00% of the stock is owned by insiders.

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.