Financial Symmetry Inc Sells 1,227 Shares of Broadcom Inc. (NASDAQ:AVGO)

Financial Symmetry Inc decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 38.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,985 shares of the semiconductor manufacturer’s stock after selling 1,227 shares during the quarter. Broadcom accounts for approximately 0.3% of Financial Symmetry Inc’s investment portfolio, making the stock its 26th biggest holding. Financial Symmetry Inc’s holdings in Broadcom were worth $460,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Denali Advisors LLC lifted its position in shares of Broadcom by 14.6% during the 4th quarter. Denali Advisors LLC now owns 61,406 shares of the semiconductor manufacturer’s stock worth $14,236,000 after buying an additional 7,825 shares in the last quarter. Lake Street Advisors Group LLC lifted its position in shares of Broadcom by 57.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 108,354 shares of the semiconductor manufacturer’s stock worth $25,121,000 after buying an additional 39,680 shares in the last quarter. Kirtland Hills Capital Management LLC lifted its position in shares of Broadcom by 30.7% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 4,420 shares of the semiconductor manufacturer’s stock worth $1,025,000 after buying an additional 1,037 shares in the last quarter. NCP Inc. lifted its position in shares of Broadcom by 63.1% during the 4th quarter. NCP Inc. now owns 12,558 shares of the semiconductor manufacturer’s stock worth $2,911,000 after buying an additional 4,858 shares in the last quarter. Finally, FFT Wealth Management LLC increased its stake in shares of Broadcom by 41.3% during the 4th quarter. FFT Wealth Management LLC now owns 3,594 shares of the semiconductor manufacturer’s stock worth $833,000 after purchasing an additional 1,051 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 7.1 %

Shares of NASDAQ:AVGO opened at $197.80 on Friday. The firm has a fifty day moving average price of $227.87 and a two-hundred day moving average price of $191.51. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a market cap of $927.16 billion, a price-to-earnings ratio of 161.34, a PEG ratio of 2.29 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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 company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the firm posted $0.98 EPS. The firm’s revenue was up 51.2% compared to the same quarter last year. Analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. 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 1.19%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is currently 191.87%.

Analyst Ratings Changes

Several brokerages have recently issued reports on AVGO. Barclays raised their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised 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. Mizuho raised 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. Truist Financial raised their price target on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, UBS Group raised their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Transactions at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction on Monday, January 6th. The shares were 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. The trade was a 29.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at $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 ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. Insiders own 2.00% of the company’s stock.

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.