GLOBALT Investments LLC GA Has $29.07 Million Position in Broadcom Inc. (NASDAQ:AVGO)

GLOBALT Investments LLC GA lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,393 shares of the semiconductor manufacturer’s stock after selling 1,064 shares during the period. Broadcom accounts for 1.1% of GLOBALT Investments LLC GA’s portfolio, making the stock its 19th largest position. GLOBALT Investments LLC GA’s holdings in Broadcom were worth $29,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. KFA Private Wealth Group LLC increased its position in Broadcom by 2.5% in the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after acquiring an additional 42 shares during the period. Dakota Community Bank & Trust NA increased its position in Broadcom by 2.7% in the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after acquiring an additional 45 shares during the period. Bryant Woods Investment Advisors LLC increased its position in Broadcom by 3.5% in the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after acquiring an additional 45 shares during the period. Marest Capital LLC increased its position in Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after acquiring an additional 46 shares during the period. Finally, Defined Wealth Management LLC increased its position in Broadcom by 0.4% in the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 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. Insiders have sold 191,278 shares of company stock valued at $44,964,800 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Up 2.2 %

AVGO opened at $195.54 on Monday. 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 company’s 50-day moving average is $218.12 and its 200 day moving average is $194.16. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The firm has a market capitalization of $919.42 billion, a P/E ratio of 159.50, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the firm earned $0.98 earnings per share. The firm’s revenue was up 51.2% on a year-over-year basis. Research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Analyst Ratings Changes

AVGO has been the subject of several recent research reports. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Piper Sandler upped their price target 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. Susquehanna upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Benchmark reiterated a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Finally, Barclays increased their price objective on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

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.