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 6.05% having worth around $31.6 billion. Moreover, Geode Capital Management LLC increased its share by 0.23 million to have a control over 9.41 million shares. And Northern Trust Investments, Inc. raised its holdings to 76433.0 shares by acquiring 4.47 million shares or 0.95% of the stake.
Broadcom Inc (AVGO) concluded trading on Wednesday at a closing price of $1253.87, with 3.48 million shares of worth about $4.36 billion changed hands on the day. Half year performance of the stock remained positive as price took a surge of 36.59% during that period and On Wednesday, January 24 the price saw a gain of about 2.25%. Currently the company’s common shares owned by public are about 468.14M shares, out of which, 458.80M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 40 times over the past 12 months. They bought 303,062 shares in 16 of the transactions. In 24 selling transactions, insiders dumped 277,170 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 13.93 million shares of worth totaling $15.55 billion. The company recently came buying 19475.0 shares which brought its stake up to 2.98% of the company’s outstanding shares. Washington Mutual Investors Fund sold -0.27 million shares, after which its hold over company’s outstanding shares shrunk to 2.35%, leaving 11.02 million shares with the mutual fund that have a worth of about $12.3 billion. Vanguard 500 Index Fund, after buying 10.72 million shares, have now control over 2.29% of the stake in the company. It holds 21082.0 shares of worth $11.96 billion.
However, the stock later moved at a day high price of 1,284.35, or with a gain of 2.25%. Stock saw a price change of 13.61% in past 5 days and over the past one month there was a price change of 11.23%. Year-to-date (YTD), AVGO shares are showing a performance of 12.33% which increased to 115.58% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $572.10 but also hit the highest price of $1231.33 during that period. The average intraday trading volume for Broadcom Inc shares is 3.33 million. The stock is currently trading 12.32% above its 20-day simple moving average (SMA20), while that difference is up 20.08% for SMA50 and it goes to 44.72% higher than SMA200.
Capital Research & Management Co acquired 28.31 million shares of Broadcom Inc having value of about $31.6 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 $614663374.31, or have control over 1.76% stake in the company. Broadcom Inc (NASDAQ: AVGO) currently have 468.14M outstanding shares and institutions hold larger chunk of about 72.29% of that. Holding of mutual funds in the company is about 30.32% while other institutional holders and individual stake holders have control over 51.38% and 2.54% of the stake respectively.
The stock has a current market capitalization of $586.99B and its 3Y-monthly beta is at 1.27. PE ratio of stock for trailing 12 months is 38.07, while it has posted earnings per share of $32.94 in the same period. Its PEG reads 2.76 and has Quick Ratio of 2.56 while making debt-to-equity ratio of 1.65. 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 3.14% while standing at 2.13% over the month.
Analysts are in expectations that Broadcom Inc (AVGO) stock would likely to be making an EPS of $10.3 in the current quarter, while forecast for next quarter EPS is $11.08 and it is $55.67 for next year. For the current quarter EPS, analysts have given the company a lowest target $9.02 which is $11.5 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 $10.33 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 10.36% while it is estimated to increase by 19.54% in next year. EPS is likely to grow at an annualized rate of 13.80% for next 5-years, compared to annual growth of 2.37% made by the stock over the past 5-years.
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 Cantor Fitzgerald on January 23, 2024 offering an Overweight rating for the stock and assigned a target price of $1300 to it.
