Slow Capital Inc. Purchases 551 Shares of Broadcom Inc. (NASDAQ:AVGO)

Slow Capital Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,509 shares of the semiconductor manufacturer’s stock after buying an additional 551 shares during the quarter. Broadcom accounts for 4.6% of Slow Capital Inc.’s portfolio, making the stock its 2nd biggest holding. Slow Capital Inc.’s holdings in Broadcom were worth $26,242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new stake in Broadcom during the fourth quarter valued at approximately $29,000. CKW Financial Group acquired a new stake in Broadcom during the fourth quarter valued at approximately $30,000. Macroview Investment Management LLC acquired a new position in shares of Broadcom in the 3rd quarter worth approximately $29,000. PrairieView Partners LLC boosted its holdings in shares of Broadcom by 178.6% in the 4th quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock worth $44,000 after acquiring an additional 25 shares in the last quarter. Finally, Rise Advisors LLC boosted its holdings in shares of Broadcom by 33.3% in the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after acquiring an additional 10 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Down 2.5 %

Shares of NASDAQ AVGO traded down $33.37 during mid-day trading on Wednesday, hitting $1,295.69. The company had a trading volume of 757,487 shares, compared to its average volume of 2,929,195. The company has a market capitalization of $600.45 billion, a PE ratio of 48.70, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25. The firm has a 50-day simple moving average of $1,306.49 and a two-hundred day simple moving average of $1,114.01. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data 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 company 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%. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter last year, the company earned $9.83 EPS. On average, equities analysts expect that Broadcom Inc. will post 35.95 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

Insider Buying and Selling

In related news, Director Justine Page sold 110 shares of Broadcom stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares in the company, valued at $4,134,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, 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 transaction of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justine Page sold 110 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,920 shares of company stock worth $40,306,667. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AVGO. Cantor Fitzgerald boosted their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Evercore ISI began coverage on shares of Broadcom in a research report on Tuesday. They issued an “outperform” rating and a $1,620.00 price objective for the company. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,281.09.

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.