Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Arbor Investment Advisors LLC

Arbor Investment Advisors LLC lessened its position in Broadcom Inc. (NASDAQ:AVGO) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,490 shares of the semiconductor manufacturer’s stock after selling 60 shares during the period. Arbor Investment Advisors LLC’s holdings in Broadcom were worth $345,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Pin Oak Investment Advisors Inc. raised its holdings in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the period. JDM Financial Group LLC increased its position in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Broadcom in the fourth quarter valued at approximately $37,000. R Squared Ltd acquired a new position in Broadcom during the fourth quarter valued at approximately $39,000. Finally, Cedar Wealth Management LLC grew its stake in Broadcom by 900.0% during the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after buying an additional 216 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays raised their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Susquehanna boosted their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. TD Cowen increased their price objective on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Robert W. Baird boosted their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, UBS Group lifted their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the transaction, the chief executive officer now directly owns 842,836 shares in the company, valued at $202,246,926.56. The trade was a 5.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $207.93 on Tuesday. The company’s fifty day moving average is $229.25 and its two-hundred day moving average is $190.93. The company has a market cap of $974.64 billion, a P/E ratio of 169.60, a price-to-earnings-growth ratio of 2.37 and a beta of 1.02. Broadcom Inc. has a 12-month low of $119.76 and a 12-month 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.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the business earned $0.98 EPS. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is currently 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.