Mitchell Mcleod Pugh & Williams Inc. Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Mitchell Mcleod Pugh & Williams Inc. lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,636 shares of the semiconductor manufacturer’s stock after buying an additional 148 shares during the period. Broadcom makes up approximately 1.1% of Mitchell Mcleod Pugh & Williams Inc.’s holdings, making the stock its 21st largest holding. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Broadcom were worth $4,059,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AVGO. Stuart Chaussee & Associates Inc. bought a new stake in Broadcom during the 4th quarter valued at approximately $25,000. PSI Advisors LLC boosted its position in Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 10 shares in the last quarter. Macroview Investment Management LLC bought a new stake in Broadcom during the 3rd quarter valued at approximately $29,000. BKM Wealth Management LLC bought a new stake in Broadcom during the 4th quarter valued at approximately $29,000. Finally, CKW Financial Group bought a new stake in Broadcom during the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other 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 owns 45 shares in the company, valued at approximately $62,465.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $1,367.52, for a total transaction of $3,418,800.00. Following the sale, the insider now directly owns 44,474 shares of the company’s stock, valued at $60,819,084.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.6 %

AVGO stock traded down $7.46 during trading on Monday, hitting $1,336.61. 396,015 shares of the company’s stock traded hands, compared to its average volume of 2,903,808. The firm has a market capitalization of $619.41 billion, a P/E ratio of 49.82, a PEG ratio of 2.74 and a beta of 1.25. The business has a fifty day simple moving average of $1,306.70 and a two-hundred day simple moving average of $1,137.84. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17.

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

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.57%. Broadcom’s payout ratio is 77.84%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AVGO shares. 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. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Cantor Fitzgerald upped their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Evercore ISI assumed coverage on shares of Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price for the company. Finally, Oppenheimer reiterated an “outperform” rating and set a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

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.