Tokio Marine Asset Management Co. Ltd. Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Tokio Marine Asset Management Co. Ltd. grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 56.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,570 shares of the semiconductor manufacturer’s stock after purchasing an additional 69,361 shares during the quarter. Broadcom makes up about 1.6% of Tokio Marine Asset Management Co. Ltd.’s portfolio, making the stock its 12th biggest holding. Tokio Marine Asset Management Co. Ltd.’s holdings in Broadcom were worth $44,414,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital Insight Partners LLC increased its holdings in Broadcom by 5.8% in the 4th quarter. Capital Insight Partners LLC now owns 6,526 shares of the semiconductor manufacturer’s stock worth $1,513,000 after acquiring an additional 360 shares in the last quarter. My Personal CFO LLC purchased a new stake in Broadcom in the 4th quarter worth $253,000. Abundance Wealth Counselors increased its holdings in Broadcom by 6.8% in the 4th quarter. Abundance Wealth Counselors now owns 12,887 shares of the semiconductor manufacturer’s stock worth $2,988,000 after acquiring an additional 818 shares in the last quarter. Brio Consultants LLC increased its holdings in Broadcom by 24.7% in the 4th quarter. Brio Consultants LLC now owns 1,744 shares of the semiconductor manufacturer’s stock worth $404,000 after acquiring an additional 345 shares in the last quarter. Finally, Independence Bank of Kentucky increased its holdings in Broadcom by 9.9% in the 4th quarter. Independence Bank of Kentucky now owns 15,050 shares of the semiconductor manufacturer’s stock worth $3,489,000 after acquiring an additional 1,360 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 1.6 %

NASDAQ AVGO opened at $217.73 on Tuesday. The firm’s 50-day moving average is $213.41 and its two-hundred day moving average is $182.20. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market capitalization of $1.02 trillion, a P/E ratio of 177.60, a PEG ratio of 2.31 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 191.87%.

Insider Transactions at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on AVGO shares. Barclays boosted their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Morgan Stanley dropped their target price on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Evercore ISI upped their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $225.04.

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.