Poinciana Advisors Group LLC Acquires New Holdings in Broadcom Inc. (NASDAQ:AVGO)

Poinciana Advisors Group LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,650 shares of the semiconductor manufacturer’s stock, valued at approximately $383,000.

A number of other institutional investors also recently added to or reduced their stakes in AVGO. Pin Oak Investment Advisors Inc. raised its stake in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Canton Hathaway LLC purchased a new stake in Broadcom in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom in the fourth quarter valued at about $26,000. JDM Financial Group LLC raised its stake in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the last quarter. Finally, Bellevue Asset Management LLC purchased a new stake in Broadcom in the fourth quarter valued at about $33,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 2.2 %

Shares of AVGO stock opened at $195.54 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The stock has a 50 day moving average of $218.12 and a 200 day moving average of $193.68. The stock has a market cap of $919.42 billion, a P/E ratio of 159.50, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the company earned $0.98 earnings per share. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVGO. Deutsche Bank Aktiengesellschaft increased their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. William Blair restated an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Jefferies Financial Group raised their price objective on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Buying and Selling at Broadcom

In other news, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom Company 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.