Gilbert Capital Group Inc. Takes $835,000 Position in Broadcom Inc. $AVGO

Gilbert Capital Group Inc. purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,028 shares of the semiconductor manufacturer’s stock, valued at approximately $835,000.

Several other large investors have also made changes to their positions in AVGO. Sawyer & Company Inc increased its stake in shares of Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new stake in Broadcom in the second quarter valued at about $27,000. Legend Financial Advisors Inc. bought a new position in Broadcom in the second quarter valued at about $28,000. Teachers Insurance & Annuity Association of America bought a new position in Broadcom in the second quarter valued at about $28,000. Finally, LGT Financial Advisors LLC acquired a new position in Broadcom during the second quarter worth about $31,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the completion of the transaction, the chief executive officer owned 725,638 shares in the company, valued at approximately $246,412,152.04. This trade represents a 12.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the transaction, the insider owned 329,302 shares in the company, valued at $114,468,668.22. This trade represents a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 818,662 shares of company stock valued at $297,135,938 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AVGO shares. Piper Sandler restated an “overweight” rating and issued a $430.00 price target (up from $375.00) on shares of Broadcom in a research note on Friday. Rosenblatt Securities raised their target price on shares of Broadcom from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Bank of America boosted their target price on shares of Broadcom from $460.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday. Susquehanna reiterated a “positive” rating and issued a $450.00 price target (up from $400.00) on shares of Broadcom in a research note on Thursday, December 4th. Finally, UBS Group set a $475.00 price objective on Broadcom and gave the company a “buy” rating in a report on Monday. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $435.96.

Broadcom Price Performance

AVGO stock opened at $339.81 on Tuesday. The company has a market capitalization of $1.60 trillion, a P/E ratio of 71.39, a PEG ratio of 1.22 and a beta of 1.19. The company has a fifty day moving average price of $363.26 and a 200-day moving average price of $319.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The business had revenue of $18.02 billion during the quarter, compared to the consensus estimate of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.Broadcom’s quarterly revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.42 earnings per share. As a group, equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, December 22nd. Broadcom’s dividend payout ratio is 54.62%.

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.