DB Fitzpatrick & Co Inc Sells 4,331 Shares of Broadcom Inc. (NASDAQ:AVGO)

DB Fitzpatrick & Co Inc decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 61.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,729 shares of the semiconductor manufacturer’s stock after selling 4,331 shares during the quarter. DB Fitzpatrick & Co Inc’s holdings in Broadcom were worth $633,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. Castleview Partners LLC boosted its stake in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its stake 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 buying an additional 135 shares during the last quarter. 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 valued at $32,000 after buying an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Broadcom during the fourth quarter valued at $37,000. Finally, Tsfg LLC grew its stake in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $237.44 on Monday. The stock has a 50-day moving average price of $202.01 and a 200 day moving average price of $178.14. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12-month low of $112.19 and a 12-month high of $251.88. The stock has a market capitalization of $1.11 trillion, a P/E ratio of 193.67, a P/E/G ratio of 2.35 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the business posted $0.98 earnings per share. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. Equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is currently 192.50%.

Insider Activity at Broadcom

In other news, Director Harry L. You sold 6,540 shares of the stock in a transaction that occurred 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 approximately $7,308,000. This represents a 17.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,278 shares of company stock valued at $44,964,800. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of analyst reports. Jefferies Financial Group upped their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Morgan Stanley increased their price target on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Bank of America boosted their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. increased their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Truist Financial boosted their price target on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.83.

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.