William Blair Investment Management LLC Increases Stake in Broadcom Inc. (NASDAQ:AVGO)

William Blair Investment Management LLC has increased its investment in Broadcom Inc. (NASDAQ:AVGO) by an impressive 202.9% during the fourth quarter, according to the firm’s most recent filing with the Securities and Exchange Commission (SEC). After acquiring an additional 433,787 shares during this period, the total shares owned by the firm now stand at 647,615. The value of these holdings is estimated at $150,143,000 based on the latest SEC disclosures.

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Other institutional investors and hedge funds have also made adjustments to their holdings of Broadcom’s stock. For instance, KFA Private Wealth Group LLC increased its stake by 2.5% during the fourth quarter, owning 1,756 shares worth approximately $407,000 after adding 42 shares. Dakota Community Bank & Trust NA also expanded its position by 2.7%, bringing its total to 1,685 shares valued at $391,000 following the acquisition of 45 additional shares. Similarly, Bryant Woods Investment Advisors LLC grew its position by 3.5%, now holding 1,317 shares valued at around $305,000 after purchasing 45 shares more in the last quarter.

Marest Capital LLC has increased its holdings by 1.0%, bringing their total to 4,539 shares worth $1,052,000 after securing 46 extra shares during the fourth quarter. Meanwhile, Defined Wealth Management LLC enhanced its stake by 0.4%, now owning 12,712 shares of Broadcom valued at $2,947,000 after acquiring 47 shares in the period. Overall, institutional investors and hedge funds collectively own 76.43% of Broadcom’s stock.

Broadcom Price Performance

As of Monday, AVGO stock opened at $195.54. The company’s stock has a 50-day moving average of $218.12 and a 200-day moving average of $194.16. Broadcom’s stock recorded a 12-month low of $119.76 and a high of $251.88. Broadcom Inc. has a current ratio of 1.17, a quick ratio of 1.07, and a debt-to-equity ratio of 0.98. The company boasts a market capitalization of $919.42 billion, a price-to-earnings (P/E) ratio of 159.50, a price/earnings to growth (PEG) ratio of 2.29, and a beta of 1.01.

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Broadcom last released its quarterly earnings data on December 12th, revealing earnings per share (EPS) of $1.42, which surpassed the consensus estimate of $1.39 by $0.03. The company reported quarterly revenues of $14.05 billion, slightly below the consensus estimate of $14.07 billion. Broadcom’s return on equity stood at 28.00%, accompanied by a net margin of 11.43%. When compared to the same period last year, the company’s quarterly revenue increased by 51.2%, with the previous year’s EPS recorded at $0.98. Analysts predict that Broadcom Inc. will report an EPS of 5.38 for the current fiscal year.

Broadcom Declares Dividend

Recently, Broadcom announced a quarterly dividend that is set to be paid on March 31st. Shareholders on record as of March 20th will receive a dividend of $0.59 per share, with the ex-dividend date also being March 20th. This action represents an annualized dividend of $2.36 and a yield of 1.21%. Broadcom’s dividend payout ratio stands at 113.46%.

Insider Buying and Selling

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In related news, insider Mark David Brazeal sold 20,168 shares of Broadcom’s stock in a transaction on December 24th, with shares sold at an average price of $238.79, bringing the total sale value to approximately $4,815,916.72. Following this sale, the insider possesses 321,660 shares valued at around $76,809,191.40, reflecting a decrease of 5.90% in their position. This transaction was disclosed in an SEC filing, which is publicly accessible. Additionally, insider Charlie B. Kawwas sold 40,000 shares on January 2nd at an average price of $231.98, for a total of $9,279,200.00. After this transaction, Kawwas now holds 696,730 shares valued at approximately $161,627,425.40, representing a 5.43% decrease in their position. Over the past three months, insiders sold a total of 191,278 shares of Broadcom stock worth about $44,964,800. Company insiders possess 2.00% of Broadcom’s stock.

Changes in Analyst Ratings

A number of research analysts have shared their perspectives on AVGO shares. Truist Financial raised its price target on Broadcom from $260.00 to $267.00, maintaining a “buy” rating in a note on March 7th. Mizuho adjusted its price target downward from $260.00 to $250.00, while keeping an “outperform” rating in a report also published on March 7th. Jefferies Financial Group increased their price target from $205.00 to $225.00, retaining a “buy” rating as noted on December 13th. Citigroup also raised their price target from $175.00 to $205.00 with a “buy” rating on December 10th. Lastly, Barclays upgraded its target from $205.00 to $260.00, rating the stock as