Quilter Plc Has $54.12 Million Holdings in Broadcom Inc. $AVGO

Quilter Plc raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 10,601.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 164,050 shares of the semiconductor manufacturer’s stock after purchasing an additional 162,517 shares during the period. Quilter Plc’s holdings in Broadcom were worth $54,122,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arthur M. Cohen & Associates LLC grew its holdings in Broadcom by 0.6% during the third quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock valued at $1,577,000 after purchasing an additional 30 shares during the period. Jackson Hole Capital Partners LLC increased its holdings in Broadcom by 1.4% in the 3rd quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock worth $716,000 after acquiring an additional 30 shares during the last quarter. McHugh Group LLC raised its stake in Broadcom by 0.4% in the 3rd quarter. McHugh Group LLC now owns 8,433 shares of the semiconductor manufacturer’s stock valued at $2,782,000 after acquiring an additional 31 shares during the period. Smith Thornton Advisors LLC lifted its holdings in Broadcom by 1.4% during the third quarter. Smith Thornton Advisors LLC now owns 2,313 shares of the semiconductor manufacturer’s stock valued at $763,000 after purchasing an additional 31 shares during the last quarter. Finally, FWG Investments LLC. lifted its holdings in Broadcom by 2.7% during the third quarter. FWG Investments LLC. now owns 1,177 shares of the semiconductor manufacturer’s stock valued at $388,000 after purchasing an additional 31 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

AVGO stock opened at $331.30 on Friday. The firm has a 50 day simple moving average of $355.76 and a two-hundred day simple moving average of $337.24. The stock has a market cap of $1.57 trillion, a PE ratio of 69.60, a P/E/G ratio of 1.10 and a beta of 1.21. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58.

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

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio (DPR) is presently 54.62%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Robert W. Baird set a $420.00 price target on shares of Broadcom in a research report on Friday, December 12th. Wolfe Research raised shares of Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 target price on the stock in a report on Friday. Wells Fargo & Company raised Broadcom from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $410.00 to $430.00 in a report on Thursday, January 15th. Morgan Stanley boosted their price objective on Broadcom from $443.00 to $462.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadcom in a report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $437.28.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 70,000 shares of Broadcom stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $347.30, for a total value of $24,311,000.00. Following the transaction, the chief executive officer owned 132,836 shares in the company, valued at $46,133,942.80. This trade represents a 34.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 30,000 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the completion of the sale, the chief financial officer directly owned 277,237 shares of the company’s stock, valued at $96,428,573.34. This represents a 9.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 779,901 shares of company stock worth $284,069,237 in the last ninety days. 2.00% of the stock is currently owned by insiders.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.