MRA Advisory Group Sells 1,695 Shares of Broadcom Inc. (NASDAQ:AVGO)

MRA Advisory Group trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 17.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,760 shares of the semiconductor manufacturer’s stock after selling 1,695 shares during the quarter. Broadcom makes up approximately 1.0% of MRA Advisory Group’s holdings, making the stock its 23rd largest position. MRA Advisory Group’s holdings in Broadcom were worth $1,799,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares during the period. Geode Capital Management LLC lifted its position in Broadcom by 976.6% during the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after buying an additional 89,975,941 shares during the period. FMR LLC lifted its position in Broadcom by 1,121.3% during the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after buying an additional 82,998,328 shares during the period. Jennison Associates LLC boosted its holdings in shares of 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 buying 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 position in shares of Broadcom by 975.4% in 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 buying an additional 30,674,902 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on AVGO shares. TD Cowen boosted their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Cantor Fitzgerald boosted their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. 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. Truist Financial boosted their target price on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Piper Sandler lifted their price target on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” 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 assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $223.54.

Insider Transactions at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was 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 of the company’s stock, valued at approximately $26,606,317.50. The trade was a 29.80 % 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, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, 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 sold 191,278 shares of company stock worth $44,964,800 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.3 %

AVGO stock opened at $224.70 on Wednesday. The business’s 50-day moving average is $199.05 and its two-hundred day moving average is $176.63. The company has a market cap of $1.05 trillion, a price-to-earnings ratio of 195.22, a P/E/G ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a fifty-two week low of $109.02 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 EPS. As a group, analysts forecast that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. Broadcom’s payout ratio is presently 191.87%.

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.