Symphony Financial Ltd. Co. decreased its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,713 shares of the semiconductor manufacturer’s stock after selling 2,805 shares during the period. Broadcom accounts for about 1.8% of Symphony Financial Ltd. Co.’s holdings, making the stock its 16th biggest position. Symphony Financial Ltd. Co.’s holdings in Broadcom were worth $11,276,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Castleview Partners LLC increased its stake in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its stake in 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 in the last quarter. JDM Financial Group LLC grew its stake in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Broadcom in the 4th quarter worth approximately $37,000. Finally, Tsfg LLC lifted its holdings in shares of Broadcom by 1,073.7% in the 3rd 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. Institutional investors own 76.43% of the company’s stock.
Broadcom Stock Down 1.6 %
NASDAQ:AVGO opened at $217.73 on Tuesday. The firm’s 50-day moving average price is $213.41 and its 200-day moving average price is $182.20. The company has a market capitalization of $1.02 trillion, a PE ratio of 177.60, a P/E/G ratio of 2.31 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.
Broadcom Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.08%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is 191.87%.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on AVGO. Morgan Stanley lowered their price objective on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Cantor Fitzgerald upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Piper Sandler upped their price target on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Truist Financial upped their price target on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Citigroup upped their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Three research 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.
Read Our Latest Research Report on AVGO
Insider Activity at Broadcom
In related news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares in the company, valued at $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. In the last ninety days, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by insiders.
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.
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