Greenleaf Trust Increases Stake in Broadcom Inc.

Greenleaf Trust has raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.4% during the fourth quarter, as revealed in its latest filing with the Securities and Exchange Commission (SEC). Following the acquisition of an additional 5,827 shares during this period, the fund now holds a total of 113,296 shares of the semiconductor manufacturer's stock. As of the end of the most recent reporting period, Greenleaf Trust's investment in Broadcom was valued at approximately $26,267,000.

Several other institutional investors have also adjusted their holdings in Broadcom. Castleview Partners LLC significantly increased its shares by 1,030.8% during the third quarter, bringing its total to 147 shares valued at $25,000 after acquiring 134 additional shares. Similarly, Pin Oak Investment Advisors Inc. boosted its stakes by 900.0% in the same quarter, acquiring a total of 150 shares, also worth $25,000. Other notable investors include JDM Financial Group LLC, which raised its holdings by 1,323.1%, and Tsfg LLC, increasing its stake by 1,073.7%. Overall, institutional investors hold about 76.43% of Broadcom's stock.

Insider Sales

In related news, activity among company insiders has also been notable. Director Eddy W. Hartenstein sold 4,000 shares of the company's stock on January 8th at an average price of $229.64, resulting in a total transaction value of $918,560. After this sale, he retains ownership of 46,400 shares valued at approximately $10,655,296, marking a 7.94% reduction in his stake. On December 17th, Director Harry L. You sold 6,540 shares for a total of $1,569,600. Following this sale, he owns 30,450 shares with an estimated value of $7,308,000, which represents a 17.68% decrease in his position. Insiders collectively sold 191,278 shares worth $44,964,800 in the last quarter, with 2.00% of the company stock currently owned by insiders.

Broadcom's Stock Performance

As of Wednesday, NASDAQ AVGO opened at $222.43. The stock has seen a fifty-two week range, with a low of $119.76 and a high of $251.88. Broadcom has a debt-to-equity ratio of 0.98 and liquidity ratios of 1.07 for the quick ratio and 1.17 for the current ratio. The stock's market capitalization stands at $1.04 trillion, with a price-to-earnings (P/E) ratio of 181.43. Recent earnings reports revealed that Broadcom achieved earnings of $1.42 per share for the quarter, exceeding analysts' estimates of $1.39. The revenue reported was $14.05 billion, slightly below expectations of $14.07 billion, indicating a year-over-year increase of 51.2%. Analysts project earnings of 5.38 per share for the current fiscal year.

Dividend Increase

Broadcom has also announced a quarterly dividend, which was distributed on December 31st. Stockholders recorded on December 23rd received a dividend of $0.59, translating to an annualized dividend of $2.36, yielding approximately 1.06%. This marks an increase from its previous quarterly dividend of $0.53. Broadcom's current dividend payout ratio is 192.50%, which reflects its commitment to returning value to shareholders.

Analyst Insights

Many analysts have provided their perspectives on Broadcom's stock. For instance, Rosenblatt Securities maintained a “buy” rating with a target price set at $240.00. Likewise, Jefferies Financial Group raised its target from $205.00 to $225.00, also giving it a “buy” rating. Other firms, including JPMorgan Chase & Co. and Benchmark, have raised their target prices and reaffirmed “buy” recommendations. Nearly all analysts view Broadcom positively, with a consensus rating of “Moderate Buy” and an average target price around $225.04.

About Broadcom Inc.

Broadcom Inc. designs and supplies a broad range of semiconductor devices. The company focuses on complex digital and mixed-signal semiconductor solutions along with analog products, both in its Semiconductor Solutions and Infrastructure Software segments.

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