Advisors Management Group Inc. ADV Sells 69 Shares of Broadcom Inc. (NASDAQ:AVGO)

Advisors Management Group Inc. ADV cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,137 shares of the semiconductor manufacturer’s stock after selling 69 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in Broadcom were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of AVGO. State Street Corp raised its holdings in Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after purchasing an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC raised its stake in Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after buying an additional 89,975,941 shares in the last quarter. FMR LLC lifted its holdings in Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after buying an additional 82,998,328 shares during the period. Jennison Associates LLC boosted its position 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 acquiring 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 shares of 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 worth $5,833,894,000 after acquiring an additional 30,674,902 shares during the period. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on AVGO shares. Morgan Stanley raised their target price on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Piper Sandler boosted their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Cantor Fitzgerald upped their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Benchmark reissued a “buy” rating and set a $255.00 price target (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, UBS Group upped their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. 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, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $223.54.

Insider Activity

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 stock was 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 owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the firm’s 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 completion of the transaction, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 in the last quarter. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Up 0.6 %

Shares of Broadcom stock opened at $229.41 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $109.02 and a twelve month high of $251.88. The company has a market cap of $1.08 trillion, a price-to-earnings ratio of 187.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The company’s 50 day moving average is $200.02 and its 200 day moving average is $177.11.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’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. Research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

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

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.