Pictet North America Advisors SA Acquires 111 Shares of Broadcom Inc. (NASDAQ:AVGO)

Pictet North America Advisors SA lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,111 shares of the semiconductor manufacturer’s stock after purchasing an additional 111 shares during the period. Pictet North America Advisors SA’s holdings in Broadcom were worth $3,040,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Castleview Partners LLC boosted its position in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. boosted its holdings in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $37,000. R Squared Ltd bought a new position in shares of Broadcom in the fourth quarter valued at approximately $39,000. Finally, JDM Financial Group LLC lifted its holdings in shares of 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 purchasing an additional 172 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Evercore ISI increased their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. UBS Group lifted their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Jefferies Financial Group lifted their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Stock Down 1.2 %

Shares of NASDAQ:AVGO opened at $233.04 on Monday. 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 12 month low of $119.76 and a 12 month high of $251.88. The company has a 50-day moving average price of $226.16 and a 200 day moving average price of $187.33. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 190.08, a PEG ratio of 2.42 and a beta of 1.02.

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

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is 191.87%.

Insider Buying and Selling

In related news, Director Check Kian Low sold 48,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. 2.00% of the stock is owned by company insiders.

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.