Bard Financial Services Inc. Cuts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Bard Financial Services Inc. lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,150 shares of the semiconductor manufacturer’s stock after selling 550 shares during the quarter. Bard Financial Services Inc.’s holdings in Broadcom were worth $3,744,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Castleview Partners LLC increased its position in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. JDM Financial Group LLC boosted its position in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the period. Tsfg LLC grew its stake in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 204 shares during the last quarter. Finally, Cedar Wealth Management LLC lifted its stake in shares of Broadcom by 900.0% during the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after acquiring an additional 216 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,128 shares of company stock worth $29,820,640 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AVGO shares. Bank of America lifted their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. TD Cowen raised their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Benchmark reiterated a “buy” rating and issued a $255.00 price target (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. Finally, Cantor Fitzgerald lifted their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $221.88.

Broadcom Stock Performance

Shares of AVGO traded up $3.00 during mid-day trading on Monday, reaching $235.55. The company had a trading volume of 18,747,366 shares, compared to its average volume of 24,904,451. The stock has a market capitalization of $1.10 trillion, a P/E ratio of 204.65, a PEG ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a 52-week low of $105.20 and a 52-week high of $251.88. The stock has a 50 day moving average of $191.27 and a two-hundred day moving average of $173.87. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. On average, analysts expect that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.00%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 191.87%.

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.