Cullen Investment Group LTD. Has $19.35 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Cullen Investment Group LTD. cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,445 shares of the semiconductor manufacturer’s stock after selling 1,983 shares during the quarter. Broadcom accounts for about 2.9% of Cullen Investment Group LTD.’s investment portfolio, making the stock its 7th largest holding. Cullen Investment Group LTD.’s holdings in Broadcom were worth $19,346,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AVGO. Kades & Cheifetz LLC increased its holdings in shares of Broadcom by 0.8% during the fourth quarter. Kades & Cheifetz LLC now owns 6,623 shares of the semiconductor manufacturer’s stock valued at $1,536,000 after acquiring an additional 51 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Broadcom by 0.5% during the fourth quarter. Sivia Capital Partners LLC now owns 9,584 shares of the semiconductor manufacturer’s stock valued at $2,222,000 after acquiring an additional 52 shares in the last quarter. Richardson Financial Services Inc. increased its holdings in shares of Broadcom by 2.4% during the third quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock valued at $415,000 after acquiring an additional 59 shares in the last quarter. Michael S. Ryan Inc. increased its holdings in shares of Broadcom by 0.7% during the fourth quarter. Michael S. Ryan Inc. now owns 8,959 shares of the semiconductor manufacturer’s stock valued at $2,077,000 after acquiring an additional 61 shares in the last quarter. Finally, Delta Investment Management LLC increased its holdings in shares of Broadcom by 14.9% during the second quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock valued at $818,000 after acquiring an additional 66 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Down 0.3 %

Shares of NASDAQ:AVGO opened at $224.70 on Wednesday. Broadcom Inc. has a 1 year low of $109.02 and a 1 year high of $251.88. The firm has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 195.22, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The business’s 50 day moving average price is $199.05 and its 200-day moving average price is $176.63.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the firm posted $0.98 EPS. The business’s revenue was up 51.2% on a year-over-year basis. On average, equities research analysts forecast that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Piper Sandler upped their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price target on shares of Broadcom in a report on Wednesday, December 11th. Cantor Fitzgerald increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Benchmark reiterated a “buy” rating and issued a $255.00 price target (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $223.54.

Insider Activity

In other news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the transaction, the director now owns 6,460 shares in the company, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

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.