Fifth Third Wealth Advisors LLC Increases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Fifth Third Wealth Advisors LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 17.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,297 shares of the semiconductor manufacturer’s stock after buying an additional 14,232 shares during the period. Broadcom accounts for 1.2% of Fifth Third Wealth Advisors LLC’s investment portfolio, making the stock its 13th largest holding. Fifth Third Wealth Advisors LLC’s holdings in Broadcom were worth $22,325,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of AVGO. Central Pacific Bank Trust Division grew its holdings in shares of Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares during the last quarter. AXA S.A. grew its stake in Broadcom by 2.7% during the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after buying an additional 7,608 shares during the last quarter. Strait & Sound Wealth Management LLC increased its position in Broadcom by 829.8% during the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after buying an additional 7,095 shares during the period. Catalyst Financial Partners LLC increased its position in Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after buying an additional 18,206 shares during the period. Finally, Whittier Trust Co. lifted its stake in Broadcom by 947.2% in the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after buying an additional 623,983 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the transaction, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the sale, the insider now owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last ninety days. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AVGO shares. Barclays raised their target price on shares of Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Benchmark reaffirmed a “buy” rating and issued a $255.00 target price (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. UBS Group raised their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Bank of America boosted their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Cantor Fitzgerald increased their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $223.54.

Broadcom Stock Performance

Shares of AVGO stock opened at $228.00 on Thursday. The stock has a fifty day moving average price of $199.05 and a 200 day moving average price of $176.63. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock has a market cap of $1.07 trillion, a PE ratio of 198.09, a P/E/G ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a 1 year low of $109.02 and a 1 year high of $251.88.

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

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders 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 dividend yield of 1.04%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is 191.87%.

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.