Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Great Diamond Partners LLC

Great Diamond Partners LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.8% during the fourth quarter, Holdings Channel reports. The firm owned 23,462 shares of the semiconductor manufacturer’s stock after selling 935 shares during the quarter. Broadcom comprises about 1.4% of Great Diamond Partners LLC’s holdings, making the stock its 17th largest position. Great Diamond Partners LLC’s holdings in Broadcom were worth $5,439,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AVGO. KFA Private Wealth Group LLC raised its stake in shares of 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 grew its holdings in shares of Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after purchasing an additional 45 shares during the last quarter. Bryant Woods Investment Advisors LLC boosted its stake in Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after purchasing an additional 45 shares during the period. Marest Capital LLC lifted its holdings in Broadcom by 1.0% in the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after purchasing an additional 46 shares during the period. Finally, Defined Wealth Management LLC increased its position in shares of Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after purchasing an additional 47 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVGO has been the subject of a number of recent analyst reports. Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Evercore ISI boosted their price objective on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Jefferies Financial Group increased 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. Piper Sandler lifted their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Cantor Fitzgerald lifted their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average target price of $225.04.

Insiders Place Their Bets

In related news, Director Diane M. Bryant sold 15,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the sale, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 12,570 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $229.62, for a total value of $2,886,323.40. Following the completion of the sale, the chief financial officer now directly owns 325,443 shares of the company’s stock, valued at approximately $74,728,221.66. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Up 2.6 %

Shares of AVGO stock opened at $221.27 on Monday. Broadcom Inc. has a 52-week low of $117.43 and a 52-week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market cap of $1.04 trillion, a price-to-earnings ratio of 180.48, a PEG ratio of 2.16 and a beta of 1.03. The firm’s 50-day moving average is $213.41 and its 200-day moving average is $182.02.

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

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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. This represents a $2.36 annualized dividend and a yield of 1.07%. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is currently 192.50%.

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.