Bank Pictet & Cie Europe AG Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Bank Pictet & Cie Europe AG increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 16.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 221,199 shares of the semiconductor manufacturer’s stock after buying an additional 31,225 shares during the period. Broadcom accounts for 1.1% of Bank Pictet & Cie Europe AG’s investment portfolio, making the stock its 24th biggest position. Bank Pictet & Cie Europe AG’s holdings in Broadcom were worth $51,283,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Castleview Partners LLC boosted its position in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 134 shares during the period. Pin Oak Investment Advisors Inc. lifted its stake in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in Broadcom in the 4th quarter valued at $37,000. R Squared Ltd purchased a new position in shares of Broadcom during the 4th quarter valued at $39,000. Finally, JDM Financial Group LLC increased 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 worth $32,000 after purchasing an additional 172 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AVGO has been the subject of several research analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research note on Wednesday, December 11th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Robert W. Baird lifted their target price on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, TD Cowen increased their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Stock Down 1.2 %

Shares of Broadcom stock opened at $233.04 on Tuesday. 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 52-week low of $119.76 and a 52-week high of $251.88. The company’s 50 day moving average price is $226.16 and its 200-day moving average price is $187.51. The stock has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 190.08, a P/E/G ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for 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 company’s revenue was up 51.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. Equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.01%. Broadcom’s dividend payout ratio is presently 192.50%.

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.