Cantor Fitzgerald Investment Advisors L.P. Sells 6,752 Shares of Broadcom Inc. (NASDAQ:AVGO)

Cantor Fitzgerald Investment Advisors L.P. reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 6.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 102,220 shares of the semiconductor manufacturer’s stock after selling 6,752 shares during the quarter. Broadcom accounts for approximately 1.6% of Cantor Fitzgerald Investment Advisors L.P.’s holdings, making the stock its 12th largest position. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Broadcom were worth $23,699,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of AVGO. Central Pacific Bank Trust Division grew its stake in shares of Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after acquiring an additional 3,707 shares during the period. Wolff Financial Management LLC purchased a new position in Broadcom during the fourth quarter valued at approximately $244,000. Strait & Sound Wealth Management LLC boosted its position in shares of Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after purchasing an additional 7,095 shares during the period. Catalyst Financial Partners LLC increased its stake in shares of Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares in the last quarter. Finally, Motive Wealth Advisors raised its position in shares of Broadcom by 1,076.5% during the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after purchasing an additional 4,209 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Broadcom news, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value 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 trade represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Up 4.5 %

NASDAQ:AVGO opened at $235.04 on Tuesday. 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 firm has a market cap of $1.10 trillion, a PE ratio of 191.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The company has a 50-day moving average of $219.76 and a 200 day moving average of $184.56. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO) last posted its 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 company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. Broadcom’s revenue was up 51.2% on a year-over-year basis. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.00%. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 192.50%.

Analysts Set New Price Targets

AVGO has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Evercore ISI increased their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup boosted 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. Finally, Robert W. Baird raised their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three equities 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 has a consensus rating of “Moderate Buy” and an average target price of $225.04.

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.