Broadcom Inc. (NASDAQ:AVGO) Shares Sold by MCF Advisors LLC

MCF Advisors LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,039 shares of the semiconductor manufacturer’s stock after selling 111 shares during the quarter. MCF Advisors LLC’s holdings in Broadcom were worth $3,255,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AVGO. NCP Inc. raised its stake in shares of Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after buying an additional 400 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its stake in Broadcom by 257.1% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,167 shares of the semiconductor manufacturer’s stock valued at $19,535,000 after purchasing an additional 8,760 shares during the last quarter. APG Asset Management US Inc. raised its stake in Broadcom by 1.8% in the 2nd quarter. APG Asset Management US Inc. now owns 158,744 shares of the semiconductor manufacturer’s stock valued at $260,467,000 after purchasing an additional 2,795 shares during the last quarter. Element Pointe Advisors LLC raised its stake in Broadcom by 112.8% in the 2nd quarter. Element Pointe Advisors LLC now owns 566 shares of the semiconductor manufacturer’s stock valued at $909,000 after purchasing an additional 300 shares during the last quarter. Finally, EDENTREE ASSET MANAGEMENT Ltd raised its stake in Broadcom by 15.7% in the 2nd quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 1,133 shares of the semiconductor manufacturer’s stock valued at $1,819,000 after purchasing an additional 154 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of Broadcom stock opened at $240.28 on Friday. The business has a 50-day moving average of $205.81 and a 200 day moving average of $179.64. Broadcom Inc. has a 12 month low of $117.43 and a 12 month high of $251.88. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 195.99, a price-to-earnings-growth ratio of 2.51 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.

Broadcom (NASDAQ:AVGO) last announced 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 company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations 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 period last year, the business posted $0.98 EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.98%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AVGO. Jefferies Financial Group increased their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Robert W. Baird increased their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Cantor Fitzgerald increased their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. TD Cowen increased their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Piper Sandler upped their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.83.

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.