Goelzer Investment Management Inc. Has $14.51 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Goelzer Investment Management Inc. cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,594 shares of the semiconductor manufacturer’s stock after selling 7,667 shares during the period. Broadcom accounts for about 0.8% of Goelzer Investment Management Inc.’s investment portfolio, making the stock its 14th biggest position. Goelzer Investment Management Inc.’s holdings in Broadcom were worth $14,512,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Castleview Partners LLC boosted its position in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the period. JDM Financial Group LLC lifted its stake 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 acquiring an additional 172 shares during the period. Retirement Wealth Solutions LLC bought a new position in Broadcom in the fourth quarter valued at about $37,000. Finally, Tsfg LLC increased its position in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now owns 30,450 shares in the company, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 1.8 %

AVGO stock opened at $244.70 on Monday. 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 stock has a market capitalization of $1.15 trillion, a P/E ratio of 199.59, a P/E/G ratio of 2.52 and a beta of 1.03. Broadcom Inc. has a fifty-two week low of $117.43 and a fifty-two week high of $251.88. The business has a 50-day moving average of $208.80 and a 200-day moving average of $180.62.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.96%. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is presently 191.87%.

Analysts Set New Price Targets

AVGO has been the topic of a number of research reports. Evercore ISI upped their target price on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Robert W. Baird increased their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup lifted their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Jefferies Financial Group upped their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Three 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.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price 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.