Encompass More Asset Management Acquires 1,179 Shares of Broadcom Inc. (NASDAQ:AVGO)

Encompass More Asset Management boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 36.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,381 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,179 shares during the period. Encompass More Asset Management’s holdings in Broadcom were worth $1,016,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Impact Partnership Wealth LLC increased its holdings in Broadcom by 28.2% in the 4th quarter. Impact Partnership Wealth LLC now owns 6,478 shares of the semiconductor manufacturer’s stock worth $1,502,000 after purchasing an additional 1,426 shares in the last quarter. LexAurum Advisors LLC increased its holdings in Broadcom by 10.8% in the 4th quarter. LexAurum Advisors LLC now owns 7,010 shares of the semiconductor manufacturer’s stock worth $1,625,000 after purchasing an additional 685 shares in the last quarter. Rappaport Reiches Capital Management LLC increased its holdings in Broadcom by 6.4% in the 4th quarter. Rappaport Reiches Capital Management LLC now owns 5,321 shares of the semiconductor manufacturer’s stock worth $1,234,000 after purchasing an additional 322 shares in the last quarter. RFG Advisory LLC increased its stake in shares of Broadcom by 7.5% in the fourth quarter. RFG Advisory LLC now owns 47,593 shares of the semiconductor manufacturer’s stock valued at $11,034,000 after buying an additional 3,334 shares during the period. Finally, TABR Capital Management LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $336,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last three months. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AVGO. Citigroup increased their price target on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Susquehanna increased their price target on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. increased their price target on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Morgan Stanley increased their price target on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, Barclays raised their target price on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.83.

Broadcom Price Performance

AVGO opened at $244.70 on Monday. The firm has a market cap of $1.15 trillion, a P/E ratio of 199.59, a PEG ratio of 2.52 and a beta of 1.03. The firm has a 50-day moving average of $208.80 and a 200 day moving average of $180.62. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a fifty-two week low of $117.43 and a fifty-two week high of $251.88.

Broadcom (NASDAQ:AVGO) last posted 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 during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. On average, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.96%. Broadcom’s dividend payout ratio 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.