Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Global Retirement Partners LLC

Global Retirement Partners LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,424 shares of the semiconductor manufacturer’s stock after selling 4,932 shares during the quarter. Global Retirement Partners LLC’s holdings in Broadcom were worth $17,718,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AVGO. DSM Capital Partners LLC grew its position in shares of Broadcom by 26.4% in the 4th quarter. DSM Capital Partners LLC now owns 5,108 shares of the semiconductor manufacturer’s stock worth $1,184,000 after acquiring an additional 1,066 shares in the last quarter. Plan Group Financial LLC boosted its holdings in Broadcom by 8.2% in the fourth quarter. Plan Group Financial LLC now owns 7,141 shares of the semiconductor manufacturer’s stock worth $1,655,000 after purchasing an additional 542 shares during the period. Atlas Legacy Advisors LLC bought a new stake in Broadcom during the fourth quarter valued at $655,000. Bank of Jackson Hole Trust bought a new position in shares of Broadcom in the 4th quarter worth about $621,000. Finally, Klingman & Associates LLC grew its position in shares of Broadcom by 4.8% during the 4th quarter. Klingman & Associates LLC now owns 8,470 shares of the semiconductor manufacturer’s stock valued at $1,964,000 after buying an additional 389 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AVGO. Evercore ISI increased their target price on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. UBS Group raised their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Susquehanna raised their price target on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Truist Financial upped their price target on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, TD Cowen upped their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $218.61 on Friday. The stock has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 178.32, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The business’s fifty day moving average price is $230.09 and its two-hundred day moving average price is $189.79. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. As a group, analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is presently 191.87%.

About Broadcom

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.