Broadcom Inc. (NASDAQ:AVGO) Holdings Decreased by Sowell Financial Services LLC

Sowell Financial Services LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,767 shares of the semiconductor manufacturer’s stock after selling 9,404 shares during the quarter. Broadcom comprises about 0.9% of Sowell Financial Services LLC’s investment portfolio, making the stock its 16th largest holding. Sowell Financial Services LLC’s holdings in Broadcom were worth $17,798,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Canton Hathaway LLC purchased a new position in Broadcom in the 4th quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter valued at approximately $26,000. Bellevue Asset Management LLC bought a new stake in shares of Broadcom in the 4th quarter valued at approximately $33,000. Pin Oak Investment Advisors Inc. grew its stake in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares in the last quarter. Finally, Synergy Investment Management LLC bought a new stake in shares of Broadcom in the 4th quarter valued at approximately $35,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Up 8.6 %

Shares of NASDAQ AVGO opened at $194.96 on Friday. 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 company has a 50-day moving average price of $222.28 and a 200-day moving average price of $192.93. The stock has a market capitalization of $913.85 billion, a P/E ratio of 159.02, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88.

Broadcom (NASDAQ:AVGO) 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. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The company’s quarterly revenue was up 51.2% on a year-over-year basis. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is currently 191.87%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. The trade was a 69.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was 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 directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % 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 over the last three months. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on AVGO. Piper Sandler boosted their price target on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Bank of America upped their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Morgan Stanley upped their target price on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Evercore ISI upped their target price on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Company 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.