Optimist Retirement Group LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,574 shares of the semiconductor manufacturer's stock after selling 1,138 shares during the quarter. Broadcom accounts for 1.6% of Optimist Retirement Group LLC's holdings, making the stock its 12th biggest holding. Optimist Retirement Group LLC's holdings in Broadcom were worth $3,379,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of AVGO. LCM Capital Management Inc lifted its holdings in shares of Broadcom by 9.7% during the 4th quarter. LCM Capital Management Inc now owns 12,066 shares of the semiconductor manufacturer's stock worth $2,797,000 after acquiring an additional 1,063 shares during the period. Syntegra Private Wealth Group LLC boosted its holdings in shares of Broadcom by 6.9% in the 4th quarter. Syntegra Private Wealth Group LLC now owns 10,363 shares of the semiconductor manufacturer's stock valued at $2,403,000 after purchasing an additional 671 shares in the last quarter. Vestia Personal Wealth Advisors increased its stake in shares of Broadcom by 35.8% in the 4th quarter. Vestia Personal Wealth Advisors now owns 2,442 shares of the semiconductor manufacturer's stock valued at $566,000 after purchasing an additional 644 shares during the last quarter. Tectonic Advisors LLC lifted its position in shares of Broadcom by 2.3% during the 4th quarter. Tectonic Advisors LLC now owns 52,092 shares of the semiconductor manufacturer's stock worth $12,077,000 after buying an additional 1,195 shares during the last quarter. Finally, Massachusetts Wealth Management bought a new position in Broadcom in the fourth quarter valued at about $253,000. Institutional investors and hedge funds own 76.43% of the company's stock.
A number of brokerages have weighed in on AVGO. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Truist Financial lifted their target price 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. TD Cowen upped their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, December 13th. UBS Group lifted their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Finally, Susquehanna raised their target price on Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a research 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. Based on data from MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and an average target price of $225.04.
Get Our Latest Analysis on AVGO
Broadcom stock opened at $224.87 on Friday. The firm has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 183.42, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The firm's fifty day moving average price is $219.76 and its two-hundred day moving average price is $184.18. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company's quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. On average, equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.05%. Broadcom's dividend payout ratio (DPR) is 192.50%.
In related news, CFO Kirsten M. Spears sold 12,570 shares of the company's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $229.62, for a total value of $2,886,323.40. Following the transaction, the chief financial officer now owns 325,443 shares in the company, valued at approximately $74,728,221.66. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 completion of the sale, the director now directly owns 30,450 shares of the company's stock, valued at $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.
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.
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