ABN Amro Investment Solutions Grows Stock Position in Broadcom Inc. $AVGO

ABN Amro Investment Solutions grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 40.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 515,292 shares of the semiconductor manufacturer’s stock after buying an additional 147,115 shares during the quarter. Broadcom accounts for about 2.6% of ABN Amro Investment Solutions’ investment portfolio, making the stock its 6th biggest holding. ABN Amro Investment Solutions’ holdings in Broadcom were worth $178,343,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Miller Global Investments LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. acquired a new position in Broadcom during the fourth quarter worth $33,000. Family CFO Inc acquired a new position in Broadcom during the fourth quarter worth $35,000. PayPay Securities Corp grew its position in Broadcom by 88.9% in the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer’s stock valued at $41,000 after purchasing an additional 56 shares in the last quarter. Finally, Camelot Portfolios LLC acquired a new stake in Broadcom in the 4th quarter valued at $45,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, insider S. Ram Velaga sold 38,841 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the completion of the sale, the insider directly owned 96,147 shares in the company, valued at approximately $30,920,875.20. This represents a 28.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 50,488 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the sale, the insider directly owned 278,141 shares in the company, valued at approximately $89,450,145.60. This trade represents a 15.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 324,282 shares of company stock valued at $106,425,249 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $414.14 on Tuesday. Broadcom Inc. has a 12-month low of $226.18 and a 12-month high of $442.36. The company has a market capitalization of $1.96 trillion, a PE ratio of 80.89, a price-to-earnings-growth ratio of 0.86 and a beta of 1.43. The firm has a 50 day moving average price of $374.86 and a two-hundred day moving average price of $356.49. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The business had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. During the same period in the previous year, the company posted $1.60 EPS. The firm’s quarterly revenue was up 29.5% on a year-over-year basis. As a group, analysts predict that Broadcom Inc. will post 9.91 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom’s dividend payout ratio (DPR) is currently 50.78%.

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. UBS Group reaffirmed a “buy” rating and issued a $490.00 target price (up from $475.00) on shares of Broadcom in a research report on Monday, May 18th. Benchmark reissued a “buy” rating and set a $485.00 price target on shares of Broadcom in a research report on Thursday, March 5th. Truist Financial increased their price objective on Broadcom from $510.00 to $545.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Citigroup reaffirmed a “buy” rating and set a $500.00 price target (up from $475.00) on shares of Broadcom in a research report on Tuesday, May 12th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $500.00 price target on shares of Broadcom in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $448.10.

Broadcom 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.