Broadcom Inc. (NASDAQ:AVGO) Stake Reduced by St. Louis Financial Planners Asset Management LLC

St. Louis Financial Planners Asset Management LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 13,150 shares of the semiconductor manufacturer’s stock after selling 175 shares during the quarter. Broadcom comprises about 2.2% of St. Louis Financial Planners Asset Management LLC’s holdings, making the stock its 10th biggest holding. St. Louis Financial Planners Asset Management LLC’s holdings in Broadcom were worth $3,049,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Street Corp raised its stake in Broadcom by 948.5% during the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after acquiring an additional 166,844,263 shares during the period. Geode Capital Management LLC grew its holdings in Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after buying an additional 89,975,941 shares in the last quarter. FMR LLC grew its holdings in Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after buying an additional 82,998,328 shares in the last quarter. Jennison Associates LLC grew its holdings in Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after buying an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Broadcom by 975.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after buying an additional 30,674,902 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the sale, the chief executive officer now owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction 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 completion of the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 over the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

AVGO opened at $229.41 on Friday. Broadcom Inc. has a 1 year low of $109.02 and a 1 year high of $251.88. The firm has a market capitalization of $1.08 trillion, a PE ratio of 187.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. 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 business’s 50-day moving average is $200.02 and its two-hundred day moving average is $177.11.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.03%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 192.50%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AVGO. Susquehanna raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Bank of America raised their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. 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. Cantor Fitzgerald raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley raised their target price on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $223.54.

About Broadcom

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.