Stephens Consulting LLC Sells 80 Shares of Broadcom Inc. (NASDAQ:AVGO)

Stephens Consulting LLC trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 22.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 280 shares of the semiconductor manufacturer’s stock after selling 80 shares during the period. Stephens Consulting LLC’s holdings in Broadcom were worth $65,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. AMF Tjanstepension AB grew its position in Broadcom by 856.9% during the third quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock worth $175,101,000 after buying an additional 908,585 shares in the last quarter. Alpha Financial Partners LLC bought a new stake in shares of Broadcom during the 3rd quarter valued at about $404,000. City Holding Co. grew its holdings in shares of Broadcom by 1,464.7% during the third quarter. City Holding Co. now owns 1,330 shares of the semiconductor manufacturer’s stock worth $229,000 after purchasing an additional 1,245 shares in the last quarter. Brookstone Capital Management increased its position in shares of Broadcom by 9.5% in the third quarter. Brookstone Capital Management now owns 38,803 shares of the semiconductor manufacturer’s stock worth $6,693,000 after purchasing an additional 3,380 shares during the last quarter. Finally, First PREMIER Bank raised its stake in Broadcom by 1,952.6% in the third quarter. First PREMIER Bank now owns 390 shares of the semiconductor manufacturer’s stock valued at $67,000 after purchasing an additional 371 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Down 0.3 %

Shares of Broadcom stock opened at $231.36 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The company has a market cap of $1.08 trillion, a P/E ratio of 188.71, a PEG ratio of 2.31 and a beta of 1.02. The company’s fifty day simple moving average is $217.07 and its two-hundred day simple moving average is $183.40.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. Research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now owns 842,836 shares of the company’s stock, valued at $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated 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 approximately $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Susquehanna boosted their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Jefferies Financial Group upped their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Evercore ISI raised their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Bank of America upped their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Mizuho raised their price objective on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

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.