Doliver Advisors LP Decreases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Doliver Advisors LP lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 14.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,440 shares of the semiconductor manufacturer’s stock after selling 2,304 shares during the period. Broadcom makes up about 0.9% of Doliver Advisors LP’s portfolio, making the stock its 16th largest position. Doliver Advisors LP’s holdings in Broadcom were worth $3,116,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Central Pacific Bank Trust Division grew its holdings in shares of Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after buying an additional 3,707 shares during the last quarter. AXA S.A. grew its stake in Broadcom by 2.7% during the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after purchasing an additional 7,608 shares during the last quarter. Strait & Sound Wealth Management LLC increased its holdings in shares of Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after purchasing an additional 7,095 shares during the period. Catalyst Financial Partners LLC raised its stake in shares of Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares during the last quarter. Finally, Whittier Trust Co. lifted its holdings in shares of Broadcom by 947.2% during the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock worth $119,000,000 after purchasing an additional 623,983 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In related news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. This represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,128 shares of company stock valued at $29,820,640. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Benchmark reissued a “buy” rating and set a $255.00 price target (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Robert W. Baird boosted their target price on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Bank of America increased their price target on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Cantor Fitzgerald lifted their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, TD Cowen raised their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $221.88.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded up $1.90 during midday trading on Monday, hitting $234.45. The company’s stock had a trading volume of 21,153,471 shares, compared to its average volume of 25,768,035. Broadcom Inc. has a 12-month low of $105.20 and a 12-month high of $251.88. The company has a market cap of $1.10 trillion, a P/E ratio of 203.69, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The business’s 50 day simple moving average is $191.27 and its 200 day simple moving average is $173.87.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. On average, analysts forecast that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.01%. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Broadcom 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.