Central Valley Advisors LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 78.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,798 shares of the semiconductor manufacturer’s stock after selling 17,710 shares during the period. Central Valley Advisors LLC’s holdings in Broadcom were worth $1,112,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Bennett Associates Wealth Management purchased a new position in Broadcom in the fourth quarter valued at about $573,000. Certified Advisory Corp grew its stake in shares of Broadcom by 3.0% in the fourth quarter. Certified Advisory Corp now owns 3,514 shares of the semiconductor manufacturer’s stock valued at $815,000 after buying an additional 104 shares in the last quarter. Ullmann Wealth Partners Group LLC grew its stake in shares of Broadcom by 11.3% in the fourth quarter. Ullmann Wealth Partners Group LLC now owns 3,517 shares of the semiconductor manufacturer’s stock valued at $815,000 after buying an additional 356 shares in the last quarter. Fermata Advisors LLC raised its holdings in shares of Broadcom by 12.2% during the 4th quarter. Fermata Advisors LLC now owns 8,933 shares of the semiconductor manufacturer’s stock valued at $2,071,000 after buying an additional 968 shares during the period. Finally, Cypress Wealth Services LLC lifted its position in Broadcom by 17.1% during the 4th quarter. Cypress Wealth Services LLC now owns 5,379 shares of the semiconductor manufacturer’s stock worth $1,247,000 after acquiring an additional 785 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Broadcom
In other Broadcom news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. 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.
Broadcom Stock Up 3.5 %
Broadcom (NASDAQ:AVGO – Get Free Report) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. As a group, equities analysts expect that Broadcom Inc. will post 5.38 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. Investors of record on Monday, December 23rd were given a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.99%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on AVGO shares. Piper Sandler increased their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 price target on shares of Broadcom in a report on Wednesday, December 11th. Citigroup boosted their price objective on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, UBS Group lifted their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $225.83.
Check Out Our Latest Stock Report on AVGO
Broadcom Company 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.
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