Yeomans Consulting Group Inc. Reduces Stake in Broadcom Inc. (NASDAQ:AVGO)

Yeomans Consulting Group Inc. trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 23.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,321 shares of the semiconductor manufacturer’s stock after selling 700 shares during the period. Yeomans Consulting Group Inc.’s holdings in Broadcom were worth $538,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Central Pacific Bank Trust Division boosted its stake in Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after buying an additional 3,707 shares during the period. Strait & Sound Wealth Management LLC boosted its stake in shares of Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after purchasing an additional 7,095 shares during the period. Catalyst Financial Partners LLC grew its holdings in Broadcom by 943.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after purchasing an additional 18,206 shares during the last quarter. Whittier Trust Co. raised its position in Broadcom by 947.2% in the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock worth $119,000,000 after purchasing an additional 623,983 shares during the period. Finally, Tidal Investments LLC lifted its stake in Broadcom by 969.3% in the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock worth $66,696,000 after purchasing an additional 350,485 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AVGO shares. Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and set a $240.00 target price on shares of Broadcom in a research report on Wednesday, December 11th. Evercore ISI upped their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $225.83.

Broadcom Trading Up 1.8 %

Broadcom stock opened at $244.70 on Friday. 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 stock has a market cap of $1.15 trillion, a PE ratio of 199.59, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03. The stock has a 50-day moving average of $208.80 and a two-hundred day moving average of $180.62. Broadcom Inc. has a one year low of $117.43 and a one year high of $251.88.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the business earned $0.98 EPS. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, research analysts anticipate 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 paid a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.96%. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Insiders Place Their Bets

In other Broadcom news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by company 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.