Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Richard W. Paul & Associates LLC

Richard W. Paul & Associates LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,423 shares of the semiconductor manufacturer’s stock after selling 641 shares during the quarter. Broadcom accounts for about 0.8% of Richard W. Paul & Associates LLC’s investment portfolio, making the stock its 28th largest holding. Richard W. Paul & Associates LLC’s holdings in Broadcom were worth $2,185,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AMF Tjanstepension AB grew its position in Broadcom by 856.9% in the third quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock valued at $175,101,000 after acquiring an additional 908,585 shares in the last quarter. Wealth Group Ltd. grew its position in Broadcom by 900.0% in the third quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock valued at $304,000 after acquiring an additional 1,584 shares in the last quarter. Swedbank AB grew its position in Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after acquiring an additional 16,453,718 shares in the last quarter. Howard Capital Management Group LLC grew its position in Broadcom by 2,219.8% in the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after acquiring an additional 2,908 shares in the last quarter. Finally, Pettinga Financial Advisors LLC grew its position in Broadcom by 896.9% in the third quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer’s stock valued at $502,000 after acquiring an additional 2,619 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AVGO. Barclays increased their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Susquehanna raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Bank of America raised their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Truist Financial raised their price target on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Buying and Selling

In related news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction dated 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 transaction, the director now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

NASDAQ:AVGO opened at $199.29 on Friday. The business’s 50-day moving average price is $227.44 and its 200 day moving average price is $192.11. The firm has a market cap of $934.16 billion, a P/E ratio of 162.56, a PEG ratio of 2.29 and a beta of 1.02. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

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

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.18%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 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.