Key Financial Inc Decreases Position in Broadcom Inc. (NASDAQ:AVGO)

Key Financial Inc lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 19.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,915 shares of the semiconductor manufacturer’s stock after selling 4,770 shares during the period. Broadcom makes up approximately 1.0% of Key Financial Inc’s portfolio, making the stock its 23rd largest position. Key Financial Inc’s holdings in Broadcom were worth $4,617,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Bfsg LLC lifted its position in shares of Broadcom by 12.5% during the 4th quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer’s stock worth $105,000 after purchasing an additional 50 shares during the last quarter. Davidson Trust Co. lifted its position in shares of Broadcom by 1.9% during the 4th quarter. Davidson Trust Co. now owns 7,582 shares of the semiconductor manufacturer’s stock worth $1,758,000 after purchasing an additional 144 shares during the last quarter. BKM Wealth Management LLC lifted its position in shares of Broadcom by 36.3% during the 4th quarter. BKM Wealth Management LLC now owns 12,258 shares of the semiconductor manufacturer’s stock worth $2,842,000 after purchasing an additional 3,264 shares during the last quarter. CRA Financial Services LLC lifted its position in shares of Broadcom by 0.3% during the 4th quarter. CRA Financial Services LLC now owns 23,029 shares of the semiconductor manufacturer’s stock worth $5,339,000 after purchasing an additional 79 shares during the last quarter. Finally, GAM Holding AG lifted its position in shares of Broadcom by 74.8% during the 4th quarter. GAM Holding AG now owns 125,850 shares of the semiconductor manufacturer’s stock worth $29,177,000 after purchasing an additional 53,843 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AVGO shares. Citigroup lifted their price objective on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Susquehanna lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Robert W. Baird lifted their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Mizuho lifted their price target on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $225.04.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Down 0.8 %

NASDAQ AVGO opened at $226.89 on Friday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm’s fifty day moving average is $230.21 and its two-hundred day moving average is $189.26. The firm has a market cap of $1.06 trillion, a PE ratio of 185.06, a P/E/G ratio of 2.39 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the business posted $0.98 earnings per share. The business’s revenue was up 51.2% compared to the same quarter last year. Analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.04%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is 192.50%.

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.