Pure Portfolios Holdings LLC Sells 102 Shares of Broadcom Inc. (NASDAQ:AVGO)

Pure Portfolios Holdings LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,677 shares of the semiconductor manufacturer’s stock after selling 102 shares during the quarter. Pure Portfolios Holdings LLC’s holdings in Broadcom were worth $389,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AVGO. Castleview Partners LLC grew its position in Broadcom by 1,030.8% during the third 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 period. Pin Oak Investment Advisors Inc. grew its position in 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 buying an additional 135 shares during the period. JDM Financial Group LLC grew its position in 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 buying an additional 172 shares during the period. Retirement Wealth Solutions LLC bought a new stake in Broadcom during the fourth quarter valued at approximately $37,000. Finally, R Squared Ltd bought a new stake in Broadcom during the fourth quarter valued at approximately $39,000. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group upped their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Citigroup upped their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Mizuho upped their price target on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, Jefferies Financial Group upped their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” 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. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Transactions 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 shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

AVGO stock opened at $228.73 on Thursday. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a fifty day simple moving average of $229.29 and a two-hundred day simple moving average of $189.00. The firm has a market capitalization of $1.07 trillion, a P/E ratio of 186.57, a price-to-earnings-growth ratio of 2.44 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. Analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 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.