Broadcom Inc. $AVGO Shares Sold by Colton Groome Financial Advisors LLC

Colton Groome Financial Advisors LLC decreased its stake in Broadcom Inc. (NASDAQ:AVGO) by 9.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,621 shares of the semiconductor manufacturer’s stock after selling 1,680 shares during the quarter. Broadcom makes up 1.6% of Colton Groome Financial Advisors LLC’s holdings, making the stock its 15th largest position. Colton Groome Financial Advisors LLC’s holdings in Broadcom were worth $5,154,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arthur M. Cohen & Associates LLC grew its holdings in Broadcom by 0.6% in the third quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock valued at $1,577,000 after purchasing an additional 30 shares during the period. Jackson Hole Capital Partners LLC raised its holdings in Broadcom by 1.4% in the 3rd quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock valued at $716,000 after acquiring an additional 30 shares during the last quarter. McHugh Group LLC increased its holdings in shares of Broadcom by 0.4% in the third quarter. McHugh Group LLC now owns 8,433 shares of the semiconductor manufacturer’s stock valued at $2,782,000 after purchasing an additional 31 shares during the last quarter. Smith Thornton Advisors LLC increased its stake in shares of Broadcom by 1.4% in the 3rd quarter. Smith Thornton Advisors LLC now owns 2,313 shares of the semiconductor manufacturer’s stock worth $763,000 after acquiring an additional 31 shares during the last quarter. Finally, FWG Investments LLC. raised its stake in Broadcom by 2.7% during the third quarter. FWG Investments LLC. now owns 1,177 shares of the semiconductor manufacturer’s stock worth $388,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 1,928 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $327.80, for a total transaction of $631,998.40. Following the sale, the insider directly owned 23,582 shares in the company, valued at approximately $7,730,179.60. The trade was a 7.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 70,000 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $347.30, for a total transaction of $24,311,000.00. Following the sale, the chief executive officer directly owned 132,836 shares in the company, valued at approximately $46,133,942.80. This represents a 34.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 779,901 shares of company stock valued at $284,069,237 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Up 2.4%

AVGO opened at $332.79 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. The business has a 50 day moving average price of $356.69 and a two-hundred day moving average price of $336.92. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $414.61. The company has a market cap of $1.58 trillion, a PE ratio of 69.91, a P/E/G ratio of 1.08 and a beta of 1.21.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The firm had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same period last year, the firm posted $1.42 EPS. Broadcom’s quarterly revenue was up 28.2% on a year-over-year basis. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. This is an increase from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s payout ratio is 54.62%.

Analysts Set New Price Targets

A number of equities research analysts have commented on AVGO shares. Robert W. Baird set a $420.00 target price on Broadcom in a research report on Friday, December 12th. Truist Financial upped their target price on shares of Broadcom from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Evercore ISI upped their price target on Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. UBS Group set a $475.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research report on Monday, December 15th. Finally, Morgan Stanley increased their price objective on Broadcom from $443.00 to $462.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $438.61.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.