International Assets Investment Management LLC Has $11.55 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

International Assets Investment Management LLC cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 99.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,803 shares of the semiconductor manufacturer’s stock after selling 8,196,297 shares during the period. Broadcom comprises approximately 0.5% of International Assets Investment Management LLC’s holdings, making the stock its 25th largest position. International Assets Investment Management LLC’s holdings in Broadcom were worth $11,553,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AVGO. Kiely Wealth Advisory Group Inc. acquired a new position in Broadcom during the second quarter worth $128,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Broadcom during the second quarter worth approximately $136,000. WPWealth LLP bought a new stake in shares of Broadcom in the second quarter valued at approximately $204,000. AIMZ Investment Advisors LLC acquired a new stake in shares of Broadcom in the second quarter worth $207,000. Finally, Inspire Advisors LLC bought a new position in Broadcom during the second quarter worth $211,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were 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 owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 155,228 shares of company stock valued at $35,643,408. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on AVGO shares. Evercore ISI raised 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. Piper Sandler lifted their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. William Blair initiated coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Benchmark restated a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Finally, Morgan Stanley raised their target price on Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $221.88.

Broadcom Stock Down 0.6 %

AVGO stock traded down $1.46 during mid-day trading on Wednesday, hitting $227.18. 3,934,747 shares of the company were exchanged, compared to its average volume of 23,719,014. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 1-year low of $106.26 and a 1-year high of $251.88. The firm’s 50 day simple moving average is $193.55 and its 200 day simple moving average is $174.58. The firm has a market cap of $1.06 trillion, a P/E ratio of 197.38, a P/E/G ratio of 2.15 and a beta of 1.03.

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

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend 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 1.04%. Broadcom’s dividend payout ratio (DPR) is presently 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.