Capital Research & Management Co has recently announced that it has increased stake in Broadcom Inc (NASDAQ:AVGO) by 1.76%. After grabbing 28.31 million shares, the institutional investor is now in possession of 0.49 million shares of the Technology Company. The new investment brought the stake of investor firm to 6.86% having worth around $23.82 billion. Moreover, Geode Capital Management LLC increased its share by 84807.0 to have a control over 8.69 million shares. And Northern Trust Investments, Inc. raised its holdings to 51749.0 shares by acquiring 4.14 million shares or 1.00% of the stake.
Broadcom Inc (AVGO) concluded trading on 12/07/23 at a closing price of $922.26, with 4.15 million shares of worth about $3.82 billion changed hands on the day. Half year performance of the stock remained positive as price took a surge of 14.68% during that period and on Thursday the price saw a gain of about 2.06%. Currently the company’s common shares owned by public are about 467.14M shares, out of which, 456.57M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 31 analysts are covering the AVGO stock and their offered price forecasts bring an average price target of $1017.28. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $1200.00 and could fall to a lowest price of $879.00. The stock’s current price level is 9.08% above of average price target set by the analysts, while a rise to estimated low would result in loss of -4.92% for the stock. However, touching the estimated high of $1200.00 would mean a gain of 23.15% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 49 times over the past 12 months. They bought 303,062 shares in 16 of the transactions. In 33 selling transactions, insiders dumped 411,569 shares.
Vanguard Total Stock Market ETF, Washington Mutual Investors Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Broadcom Inc Vanguard Total Stock Market ETF is currently holding 12.92 million shares of worth totaling $10.87 billion. The company recently came buying 60156.0 shares which brought its stake up to 3.13% of the company’s outstanding shares. Washington Mutual Investors Fund sold -0.51 million shares, after which its hold over company’s outstanding shares shrunk to 2.73%, leaving 11.28 million shares with the mutual fund that have a worth of about $9.49 billion. Vanguard 500 Index Fund, after buying 9.97 million shares, have now control over 2.42% of the stake in the company. It holds 46963.0 shares of worth $8.38 billion.
Broadcom Inc (NASDAQ: AVGO) started trading at $905.54, above $1.9 from concluding price of the previous day. However, the stock later moved at a day high price of 924.12, or with a gain of 2.06%. Stock saw a price change of -0.37% in past 5 days and over the past one month there was a price change of 2.72%. Year-to-date (YTD), AVGO shares are showing a performance of 64.95% which increased to 75.39% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $516.05 but also hit the highest price of $999.87 during that period. The average intraday trading volume for Broadcom Inc shares is 2.43 million. The stock is currently trading -2.79% below its 20-day simple moving average (SMA20), while that difference is up 3.17% for SMA50 and it goes to 16.45% higher than SMA200.
Capital Research & Management Co acquired 28.31 million shares of Broadcom Inc having value of about $23.82 billion. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 0.49 million shares in the company valued at close to $452103841.38, or have control over 1.76% stake in the company. Broadcom Inc (NASDAQ: AVGO) currently have 467.14M outstanding shares and institutions hold larger chunk of about 72.44% of that. Holding of mutual funds in the company is about 29.01% while other institutional holders and individual stake holders have control over 53.75% and 2.91% of the stake respectively.
The stock has a current market capitalization of $430.82B and its 3Y-monthly beta is at 1.22. PE ratio of stock for trailing 12 months is 28.46, while it has posted earnings per share of $32.40 in the same period. Its PEG reads 2.26 and has Quick Ratio of 2.25 while making debt-to-equity ratio of 1.78. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AVGO, volatility over the week remained 1.99% while standing at 2.21% over the month.
Analysts are in expectations that Broadcom Inc (AVGO) stock would likely to be making an EPS of $EVgo Inc. in the current quarter, while forecast for next quarter EPS is $3.02 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $Avinger, Inc. which is $AVROBIO, Inc. at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Assured Guaranty Ltd. in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 10.34% while it is estimated to increase by 13.21% in next year. EPS is likely to shrink at an annualized rate of 12.58% for next 5-years, compared to annual growth of 44.72% made by the stock over the past 5-years.
Analysts at 31 brokerage firms have issued recommendations for the Broadcom Inc (AVGO)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.68. Out of those 31 Wall Street analysts, 19 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Oppenheimer on December 04, 2023 offering an Outperform rating for the stock and assigned a target price range of between $990 and $1100 to it.
