Stokes Capital Advisors LLC Reduces Stake in Broadcom Inc. (NASDAQ:AVGO)

Stokes Capital Advisors LLC lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 67,971 shares of the semiconductor manufacturer’s stock after selling 743 shares during the period. Broadcom comprises approximately 4.1% of Stokes Capital Advisors LLC’s investment portfolio, making the stock its 2nd biggest position. Stokes Capital Advisors LLC’s holdings in Broadcom were worth $15,758,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AVGO. Bridgewater Advisors Inc. grew its position in shares of Broadcom by 1.3% in the fourth quarter. Bridgewater Advisors Inc. now owns 15,332 shares of the semiconductor manufacturer’s stock valued at $3,445,000 after purchasing an additional 191 shares during the last quarter. Strong Tower Advisory Services boosted its stake in Broadcom by 8.3% in the 4th quarter. Strong Tower Advisory Services now owns 14,166 shares of the semiconductor manufacturer’s stock valued at $3,284,000 after purchasing an additional 1,083 shares during the period. Wealth Management Partners LLC grew its holdings in Broadcom by 2.6% in the 4th quarter. Wealth Management Partners LLC now owns 9,747 shares of the semiconductor manufacturer’s stock valued at $2,260,000 after buying an additional 244 shares in the last quarter. M.E. Allison & CO. Inc. bought a new position in Broadcom during the 4th quarter worth $1,862,000. Finally, Consolidated Capital Management LLC lifted its holdings in shares of Broadcom by 0.3% during the fourth quarter. Consolidated Capital Management LLC now owns 20,973 shares of the semiconductor manufacturer’s stock worth $4,862,000 after buying an additional 68 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on AVGO. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. TD Cowen lifted their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Truist Financial increased their price target on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Mizuho lifted their price objective on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, Susquehanna raised their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.83.

Broadcom Stock Up 1.2 %

Shares of NASDAQ AVGO opened at $240.31 on Wednesday. The company has a 50 day simple moving average of $203.18 and a 200 day simple moving average of $178.65. 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 Inc. has a 1 year low of $117.43 and a 1 year high of $251.88. The firm has a market cap of $1.13 trillion, a PE ratio of 196.01, a price-to-earnings-growth ratio of 2.48 and a beta of 1.03.

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, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. On average, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.98%. Broadcom’s dividend payout ratio is presently 192.50%.

Insider Activity at Broadcom

In related news, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a 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 on 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 $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 over the last ninety days. Insiders own 2.00% of the company’s stock.

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.