BOK Financial Private Wealth Inc. Sells 3,355 Shares of Broadcom Inc. (NASDAQ:AVGO)

BOK Financial Private Wealth Inc. cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,132 shares of the semiconductor manufacturer’s stock after selling 3,355 shares during the period. Broadcom comprises 0.6% of BOK Financial Private Wealth Inc.’s portfolio, making the stock its 18th biggest position. BOK Financial Private Wealth Inc.’s holdings in Broadcom were worth $8,377,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Canton Hathaway LLC bought a new stake in Broadcom during the 4th quarter valued at $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom during the 4th quarter valued at $26,000. Bellevue Asset Management LLC bought a new stake in Broadcom during the 4th quarter valued at $33,000. Pin Oak Investment Advisors Inc. raised its position in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Finally, Synergy Investment Management LLC bought a new position in shares of Broadcom in the 4th quarter worth $35,000. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on AVGO. Morgan Stanley boosted their price target on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research report on Friday. KeyCorp boosted their price target on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday. Barclays boosted their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Up 8.6 %

Broadcom stock opened at $194.96 on Friday. 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 business’s 50-day simple moving average is $222.28 and its two-hundred day simple moving average is $192.93. The company has a market cap of $913.85 billion, a PE ratio of 159.02, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS 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 firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The company’s revenue was up 51.2% compared to the same quarter last year. Equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. Broadcom’s payout ratio is 191.87%.

Insider Transactions at Broadcom

In other news, Director Harry L. You sold 6,540 shares of the company’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 sale, the director now owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. The trade was 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 worth $44,964,800 over the last quarter. 2.00% of the stock is currently owned by insiders.

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.