Howe & Rusling Inc. Has $15.14 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Howe & Rusling Inc. boosted its stake in Broadcom Inc. (NASDAQ:AVGOFree Report) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,232 shares of the semiconductor manufacturer’s stock after purchasing an additional 86 shares during the quarter. Broadcom comprises about 1.8% of Howe & Rusling Inc.’s holdings, making the stock its 14th biggest position. Howe & Rusling Inc.’s holdings in Broadcom were worth $15,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Cantor Fitzgerald Investment Advisor L.P grew its stake in Broadcom by 94.4% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock valued at $47,283,000 after acquiring an additional 36,458 shares during the period. Fairfield Bush & CO. lifted its holdings in shares of Broadcom by 2.6% in the 1st quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock worth $3,114,000 after purchasing an additional 123 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Broadcom by 20.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock valued at $320,887,000 after purchasing an additional 87,945 shares during the period. Loomis Sayles & Co. L P increased its stake in Broadcom by 1.1% during the 1st quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock valued at $25,412,000 after purchasing an additional 420 shares in the last quarter. Finally, Ergoteles LLC acquired a new position in Broadcom during the first quarter worth $1,095,000. 78.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVGO. TD Cowen lifted their price objective on shares of Broadcom from $900.00 to $1,000.00 and gave the company a “market perform” rating in a report on Friday, December 8th. Oppenheimer lifted their price target on Broadcom from $990.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Monday, December 4th. Citigroup reissued a “buy” rating and set a $1,100.00 price objective on shares of Broadcom in a report on Monday, December 11th. Susquehanna raised their target price on Broadcom from $1,010.00 to $1,100.00 and gave the company a “positive” rating in a report on Tuesday, November 28th. Finally, Truist Financial lifted their target price on Broadcom from $995.00 to $1,015.00 and gave the company a “buy” rating in a research report on Friday, December 8th. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $981.45.

Check Out Our Latest Report on Broadcom

Broadcom Stock Performance

NASDAQ AVGO traded up $17.70 on Thursday, hitting $1,274.76. 2,920,317 shares of the stock traded hands, compared to its average volume of 2,671,818. The company has a debt-to-equity ratio of 1.57, a quick ratio of 2.56 and a current ratio of 2.82. The business’s fifty day moving average is $1,110.59 and its two-hundred day moving average is $959.73. Broadcom Inc. has a 12 month low of $572.10 and a 12 month high of $1,295.97. The firm has a market capitalization of $596.77 billion, a price-to-earnings ratio of 39.11, a PEG ratio of 2.25 and a beta of 1.25.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings results on Thursday, December 7th. The semiconductor manufacturer reported $11.06 earnings per share for the quarter, topping the consensus estimate of $10.96 by $0.10. Broadcom had a return on equity of 73.43% and a net margin of 39.31%. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the prior year, the company earned $9.75 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts anticipate that Broadcom Inc. will post 42.76 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Wednesday, December 20th were paid a dividend of $5.25 per share. This is a boost from Broadcom’s previous quarterly dividend of $4.60. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, December 19th. Broadcom’s dividend payout ratio is presently 63.75%.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 2,000 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $1,116.00, for a total transaction of $2,232,000.00. Following the sale, the insider now owns 91,380 shares of the company’s stock, valued at approximately $101,980,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the transaction, the chief financial officer now directly owns 26,880 shares in the company, valued at $28,039,603.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $1,116.00, for a total transaction of $2,232,000.00. Following the sale, the insider now directly owns 91,380 shares in the company, valued at approximately $101,980,080. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,443 shares of company stock valued at $50,151,532. Company insiders own 2.20% of the company’s stock.

Broadcom Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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