Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Monetta Financial Services Inc.

Monetta Financial Services Inc. trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 28.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,000 shares of the semiconductor manufacturer’s stock after selling 2,000 shares during the period. Broadcom makes up approximately 0.9% of Monetta Financial Services Inc.’s investment portfolio, making the stock its 25th largest holding. Monetta Financial Services Inc.’s holdings in Broadcom were worth $1,159,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. boosted its stake in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares in the last quarter. Canton Hathaway LLC bought a new position in Broadcom during the fourth quarter valued at about $26,000. Rialto Wealth Management LLC bought a new position in Broadcom during the fourth quarter valued at about $26,000. JDM Financial Group LLC boosted its stake in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares in the last quarter. Finally, Bellevue Asset Management LLC bought a new position in Broadcom during the fourth quarter valued at about $33,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the sale, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,168 shares of company stock valued at $40,508,877. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $190.54 on Friday. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The stock’s 50-day moving average is $215.03 and its two-hundred day moving average is $194.59. 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 firm has a market cap of $895.91 billion, a P/E ratio of 155.42, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.24%. Broadcom’s dividend payout ratio is currently 113.46%.

Analyst Ratings Changes

Several research analysts recently weighed in on AVGO shares. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Citigroup raised their target price on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler raised their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Truist Financial increased their price target on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Finally, Susquehanna increased their price target on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

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.