SNS Financial Group LLC Sells 127 Shares of Broadcom Inc. (NASDAQ:AVGO)

SNS Financial Group LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,388 shares of the semiconductor manufacturer’s stock after selling 127 shares during the quarter. SNS Financial Group LLC’s holdings in Broadcom were worth $322,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. KFA Private Wealth Group LLC grew its stake in shares of Broadcom by 2.5% during the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after purchasing an additional 42 shares during the period. Dakota Community Bank & Trust NA grew its stake 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 worth $391,000 after purchasing an additional 45 shares during the period. Bryant Woods Investment Advisors LLC grew its stake in shares of Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after purchasing an additional 45 shares during the period. Marest Capital LLC grew its stake in shares of Broadcom by 1.0% during 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 grew its stake in shares of Broadcom by 0.4% during the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after purchasing an additional 47 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AVGO. Benchmark reaffirmed a “buy” rating and set a $255.00 price objective (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Truist Financial lifted their price objective on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Citigroup lifted their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. lifted their target price on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Bank of America lifted their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Stock Performance

AVGO opened at $218.61 on Friday. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The firm has a market capitalization of $1.02 trillion, a PE ratio of 178.32, a PEG ratio of 2.39 and a beta of 1.02. 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 $230.09 and its 200 day simple moving average is $189.79.

Broadcom (NASDAQ:AVGO) last released its earnings results 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 business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. Broadcom’s revenue was up 51.2% on a year-over-year basis. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced 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 represents a $2.36 annualized dividend and a yield of 1.08%. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 191.87%.

Insider Buying and Selling

In other Broadcom news, Director Harry L. You sold 6,540 shares of the business’s 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 transaction, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. The trade was 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 this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,278 shares of company stock worth $44,964,800. Corporate insiders own 2.00% of the company’s stock.

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.