According to the most recent 13F filing that Financial Counselors Inc. submitted with the Securities and Exchange Commission, the company’s holdings in Broadcom Inc. (NASDAQ: AVGO) were reduced by 1.7% during the third quarter of 2018. (SEC). The institutional investor now has 58,800 shares of the manufacturer’s semiconductors stock after selling 1,037 shares during the relevant period. This brings the total number of shares that they own in the company to 58,800. The value of Financial Counselors Inc.’s holdings in Broadcom was reported to be $26,108,000. This information was included in the company’s most recent filing with the SEC.
In addition, several institutional investors have recently adjusted the percentage of the company’s stock in their respective portfolios. Charles Schwab Investment Management Inc. increased the amount of Broadcom stock owned by 11.6% during the first three months of 2018. Charles Schwab Investment Management Inc. now owns 4,682,635 stock held by the semiconductor manufacturer after purchasing an additional 488,405 shares during the most recent quarter. The value of these shares as of right now is $2,948,563,000 in total. In the second quarter, the investment portfolio of Legal & General Group Plc was augmented by an additional 3.8% worth of Broadcom shares. Following acquiring an additional 96,567 shares during the relevant period, Legal & General Group Plc now holds a total of 2,633,276 shares of the stock held by the semiconductor manufacturer. The value of these shares is equivalent to $1,279,276,000. The asset holdings of Jennison Associates LLC were bolstered by an increase of 20.5% in the number of Broadcom shares during the second quarter. After the period’s completion, Jennison Associates LLC acquired an additional 381,275 shares of the semiconductor manufacturer’s stock, bringing the total number of shares it currently owns in the company’s stock to 2,241,848. The current value of these shares, when traded on the market, is $1,089,112,000. During the second quarter, Deutsche Bank AG achieved a 3.5% increase in the proportion of Broadcom stock it owned. Following the additional acquisition of 49,298 shares over time, Deutsche Bank AG now possesses a total of 1,473,434 stock held by the semiconductor manufacturer. These shares are currently valued at a combined total of $715,807,000. And finally, during the third quarter, Sumitomo Mitsui Trust Holdings Inc. contributed an additional 1.6% to the total amount it had already invested in Broadcom. After purchasing an additional 19,773 shares throughout the period, Sumitomo Mitsui Trust Holdings Inc. now has 1,261,205 shares of the stock held by the semiconductor manufacturer. These shares have a value of $559,988,000, and the company’s holdings are worth 1,261,205. Institutional investors and hedge funds own 81.28 percent of the company’s stock. Hedge funds also hold a significant amount of the company’s stock.
In recent analyst reports, AVGO has received most of the attention paid to the company. In a report published on Monday, December 5th, Susquehanna Bancshares lowered their price target on Broadcom from $680.00 to $650.00 and gave the company a “positive” rating. Evercore ISI stated that they had increased their target price on Broadcom to $650.00 in a research note released on the 12th of December. Mizuho decreased its target price on Broadcom from $725.00 to $700.00 in a research report published on Friday, December 9th. The stock also received a “buy” rating from the brokerage firm’s analyst team. On Friday, December 9th, Cowen released a research note in which they increased their target price for Broadcom from $540.00 to $555.00 and gave the company a “market perform.” Cowen increased their target price on Broadcom from $540.00 to $555.00 in a research report published on Friday, December 9th. This was the final change, but certainly not the least important one. Two financial experts have provided a recommendation to hold the stock. In contrast, sixteen analysts have provided a rating of “buy” for the stock, and one has a rating of “strong buy” for the stock. The current consensus recommendation for Broadcom is “Moderate Buy,” and the price objective for the company is pegged at an average of $667.37, according to the data compiled by Bloomberg.
In related news, director Justine Page sold 170 shares of the company’s stock on Tuesday, the 13th of December. The transaction took place during the regular trading session. The stock was sold for a total value of $97,726.20 based on its average selling price of $574.86 per share, making the transaction total. Following the transaction’s completion, the director obtained a total of 2,981 shares of the company’s stock, which currently have a value of approximately $1,713,657.66 per share. One can access the legal file containing the disclosure of the transaction by going to the Securities and Exchange Commission (SEC) website. At this point, company insiders hold a 2.30 percent stake.
The price of an AVGO share fell by $3.49 during the session on Friday at midday, bringing the total to $578.45. The total number of shares traded by the company was 35,403, significantly less than the daily volume of 2,664,510. Throughout the year, Broadcom Inc.’s stock price ranged from a 52-week high of $645.31 to a 52-week low of $415.07. There is a debt-to-equity ratio of 1.72, a quick ratio of 2.35, and a current ratio of 2.62. These three ratios are all presented in the following format: The company’s stock carries a beta value of 1.08, a price-to-earnings ratio of 21.96, a price-to-earnings-to-growth ratio of 1.24, and a price-to-earnings-to-growth ratio of 1.24. Its market capitalization is currently estimated to be $241.73 billion. The stock’s moving average over the past 50 days is $538.95, and its moving average over the past 200 days is $510.12.
On December 8th, the most recent earnings report for Broadcom, which is publicly traded and can be found under the symbol NASDAQ: AVGO, was made available to the public. The manufacturer of semiconductors revealed an earnings per share figure for the quarter that was $0.95 higher than the experts’ consensus projection of $9.50, which was $10.45. This brought the company’s total quarterly earnings to $10.45. For Broadcom, the net margin was 34.62 percent, and the return on equity was 70 percent. The actual quarterly revenue of the company, which was $8.93 billion, was significantly higher than the average prediction of $8.90 billion, which was also the previous record for the company. The company reported $7.01 per share earnings for the same quarter in the prior year’s financial statements. Compared to the same quarter in the previous year, the increase in revenue was 20.6% higher than expected. Industry watchers expect Broadcom Inc. to generate earnings of 37.2 cents per share this year.
In addition, the company declared a quarterly dividend, which was paid out on the Friday after the 30th of December (the 30th of December). The recorded investors received a dividend payment on December 20, $4.60. The payment was made to those investors. Broadcom has increased the dividend it has been paying out every quarter, which was previously $4.10 per share. On Monday, December 19, shareholders were not given any portion of this dividend payment because it had been distributed. Because of this, the final result is a dividend payment of $18.40 per year and a yield of 3.18%. The current payout ratio of dividends for Broadcom is calculated to be 69.43% of total earnings.