Northstar Group Inc. Purchases 2,088 Shares of Broadcom Inc. (NASDAQ:AVGO)

Northstar Group Inc. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,320 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,088 shares during the quarter. Northstar Group Inc.’s holdings in Broadcom were worth $400,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Vivaldi Capital Management LP acquired a new position in Broadcom in the 4th quarter valued at $479,000. Kestra Advisory Services LLC grew its position in Broadcom by 6.4% during the fourth quarter. Kestra Advisory Services LLC now owns 25,665 shares of the semiconductor manufacturer’s stock worth $28,649,000 after buying an additional 1,540 shares in the last quarter. Pitcairn Co. raised its holdings in Broadcom by 44.4% in the 4th quarter. Pitcairn Co. now owns 10,665 shares of the semiconductor manufacturer’s stock valued at $11,905,000 after acquiring an additional 3,279 shares in the last quarter. Mango Investments LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $16,520,000. Finally, Pathstone Holdings LLC acquired a new stake in shares of Broadcom during the 4th quarter worth approximately $50,196,000. 76.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AVGO. Barclays lifted their price target on shares of Broadcom from $150.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, June 13th. Wells Fargo & Company raised their price target on shares of Broadcom from $143.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 13th. Benchmark reaffirmed a “buy” rating and set a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. Evercore ISI raised their target price on Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Finally, Truist Financial upped their price target on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $190.29.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 276,230 shares of company stock worth $47,190,190. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Down 1.7 %

Shares of NASDAQ:AVGO traded down $3.13 during mid-day trading on Thursday, reaching $182.82. 1,080,800 shares of the stock were exchanged, compared to its average volume of 30,883,236. The company has a market cap of $851.01 billion, a P/E ratio of 7.94, a P/E/G ratio of 2.78 and a beta of 1.17. The stock’s 50 day simple moving average is $161.39 and its 200-day simple moving average is $150.97. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a one year low of $81.83 and a one year high of $186.42.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 earnings per share. As a group, equities research analysts predict that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s payout ratio is currently 9.12%.

Broadcom 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.