Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Advocate Group LLC

Advocate Group LLC lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,509 shares of the semiconductor manufacturer’s stock after selling 451 shares during the period. Advocate Group LLC’s holdings in Broadcom were worth $3,917,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AVGO. Rise Advisors LLC raised its position in Broadcom by 76.5% during the 3rd quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 13 shares during the last quarter. Bollard Group LLC purchased a new position in Broadcom during the 2nd quarter worth $26,000. Macroview Investment Management LLC purchased a new position in Broadcom during the 3rd quarter worth $29,000. BKM Wealth Management LLC purchased a new position in Broadcom during the 4th quarter worth $29,000. Finally, Indiana Trust & Investment Management CO purchased a new position in Broadcom during the 3rd quarter worth $32,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 0.5 %

Shares of NASDAQ:AVGO traded up $6.68 during midday trading on Friday, reaching $1,325.41. The company had a trading volume of 1,985,552 shares, compared to its average volume of 4,170,809. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock’s fifty day moving average price is $1,275.48 and its 200-day moving average price is $1,065.08. The stock has a market capitalization of $614.22 billion, a P/E ratio of 49.13, a PEG ratio of 2.78 and a beta of 1.26. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.83 earnings per share. Equities research analysts expect that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The disclosure for this sale can be found here. Insiders sold a total of 19,810 shares of company stock valued at $26,107,692 over the last 90 days. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

AVGO has been the subject of a number of research analyst reports. Barclays initiated coverage on shares of Broadcom in a report on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 price target for the company. Truist Financial raised their target price on shares of Broadcom from $995.00 to $1,015.00 and gave the company a “buy” rating in a report on Friday, December 8th. The Goldman Sachs Group restated a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and raised their target price for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Finally, Cantor Fitzgerald raised their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Three analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $1,230.18.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.