IFG Advisory LLC Buys 66 Shares of Broadcom Inc. (NASDAQ:AVGO)

IFG Advisory LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.1% during the 4th quarter, HoldingsChannel reports. The fund owned 6,238 shares of the semiconductor manufacturer’s stock after purchasing an additional 66 shares during the quarter. IFG Advisory LLC’s holdings in Broadcom were worth $6,963,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC lifted its holdings in shares of Broadcom by 76.5% during the third quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 13 shares in the last quarter. Bollard Group LLC bought a new position in shares of Broadcom during the second quarter valued at $26,000. Macroview Investment Management LLC bought a new position in shares of Broadcom during the third quarter valued at $29,000. BKM Wealth Management LLC bought a new position in shares of Broadcom during the fourth quarter valued at $29,000. Finally, Indiana Trust & Investment Management CO bought a new position in shares of Broadcom during the third quarter valued at $32,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

NASDAQ AVGO opened at $1,318.73 on Thursday. The firm has a market cap of $611.13 billion, a price-to-earnings ratio of 48.88, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The business has a 50-day moving average price of $1,267.55 and a 200-day moving average price of $1,061.46. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.83 earnings per share. As a group, equities research analysts predict that Broadcom Inc. will post 36.8 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Thursday, March 21st will be paid a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, March 20th. Broadcom’s payout ratio is presently 77.84%.

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the transaction, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Kirsten M. Spears sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the sale, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,810 shares of company stock valued at $26,107,692. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research analyst reports. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Summit Insights upgraded Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. UBS Group upped their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Mizuho upped their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, Citigroup reiterated a “buy” rating and set a $1,100.00 price objective on shares of Broadcom in a research report on Monday, December 11th. Three analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $1,230.18.

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.