Broadcom Inc. (NASDAQ:AVGO) is Northern Financial Advisors Inc’s 7th Largest Position

Northern Financial Advisors Inc boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,052 shares of the semiconductor manufacturer’s stock after purchasing an additional 23 shares during the quarter. Broadcom comprises about 1.9% of Northern Financial Advisors Inc’s holdings, making the stock its 7th biggest holding. Northern Financial Advisors Inc’s holdings in Broadcom were worth $2,291,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of Broadcom by 113,495.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after acquiring an additional 3,324,288 shares during the period. Wellington Management Group LLP grew its position in Broadcom by 43.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after purchasing an additional 1,228,755 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Broadcom during the 3rd quarter valued at $560,563,000. FMR LLC lifted its holdings in shares of Broadcom by 16.7% during the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock valued at $3,338,203,000 after buying an additional 573,826 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Broadcom by 19.1% in the 3rd quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after buying an additional 514,120 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares in the company, valued at $220,583,976. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the transaction, the insider now owns 41,974 shares in the company, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AVGO. Barclays increased their target price on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Benchmark reissued a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and upped their target price for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Susquehanna lifted their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Finally, Evercore ISI began coverage on Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Price Performance

Shares of Broadcom stock traded up $19.90 during trading on Wednesday, reaching $1,323.01. 615,591 shares of the stock traded hands, compared to its average volume of 2,846,369. Broadcom Inc. has a 52-week low of $615.86 and a 52-week high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The business has a fifty day simple moving average of $1,308.82 and a two-hundred day simple moving average of $1,157.75. The company has a market capitalization of $613.11 billion, a price-to-earnings ratio of 49.54, a P/E/G ratio of 2.60 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter last year, the business posted $9.83 EPS. Sell-side analysts expect that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.59%. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

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.