Broadcom Inc. (NASDAQ:AVGO) Shares Sold by CFO4Life Group LLC

CFO4Life Group LLC lessened its position in Broadcom Inc. (NASDAQ:AVGO) by 7.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,171 shares of the semiconductor manufacturer’s stock after selling 825 shares during the period. CFO4Life Group LLC’s holdings in Broadcom were worth $2,358,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Intermede Investment Partners Ltd acquired a new stake in shares of Broadcom in the 4th quarter worth $147,958,000. PGGM Investments lifted its stake in shares of Broadcom by 53.0% in the fourth quarter. PGGM Investments now owns 164,819 shares of the semiconductor manufacturer’s stock valued at $38,212,000 after purchasing an additional 57,101 shares during the period. Stelac Advisory Services LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $111,000. Lazard Freres Gestion S.A.S. lifted its stake in shares of Broadcom by 148.3% in the fourth quarter. Lazard Freres Gestion S.A.S. now owns 90,644 shares of the semiconductor manufacturer’s stock valued at $21,014,000 after purchasing an additional 54,144 shares during the period. Finally, HBK Sorce Advisory LLC lifted its stake in shares of Broadcom by 9.7% in the fourth quarter. HBK Sorce Advisory LLC now owns 28,351 shares of the semiconductor manufacturer’s stock valued at $6,573,000 after purchasing an additional 2,507 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction that occurred on 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 transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % 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 ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Broadcom stock opened at $194.23 on Thursday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The firm has a 50 day moving average price of $219.67 and a 200 day moving average price of $193.45. The company has a market cap of $913.26 billion, a price-to-earnings ratio of 158.43, a PEG ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

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, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. Sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.22%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent research reports. TD Cowen raised their target price on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. KeyCorp raised their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Morgan Stanley raised their target price on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, Barclays raised their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average target price of $231.48.

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.