Sheaff Brock Investment Advisors LLC Has $17.60 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Sheaff Brock Investment Advisors LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,933 shares of the semiconductor manufacturer’s stock after selling 2,713 shares during the period. Broadcom accounts for about 1.5% of Sheaff Brock Investment Advisors LLC’s portfolio, making the stock its 8th biggest position. Sheaff Brock Investment Advisors LLC’s holdings in Broadcom were worth $17,604,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Strategic Financial Concepts LLC boosted its holdings in shares of Broadcom by 41.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 2,249 shares of the semiconductor manufacturer’s stock worth $521,000 after buying an additional 657 shares in the last quarter. Allworth Financial LP lifted its position in shares of Broadcom by 0.8% during the 4th quarter. Allworth Financial LP now owns 318,098 shares of the semiconductor manufacturer’s stock valued at $76,633,000 after acquiring an additional 2,531 shares during the period. Principal Securities Inc. boosted its stake in Broadcom by 33.4% during the fourth quarter. Principal Securities Inc. now owns 86,315 shares of the semiconductor manufacturer’s stock worth $20,011,000 after acquiring an additional 21,603 shares in the last quarter. Quantum Private Wealth LLC grew its holdings in Broadcom by 5.7% in the fourth quarter. Quantum Private Wealth LLC now owns 43,855 shares of the semiconductor manufacturer’s stock worth $10,167,000 after purchasing an additional 2,375 shares during the period. Finally, Centerpoint Advisory Group bought a new stake in Broadcom in the fourth quarter valued at $1,523,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AVGO. Morgan Stanley cut their price objective on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Benchmark reissued a “buy” rating and issued a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Truist Financial upped their target price on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Barclays lifted their price target on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Bank of America upped their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Insiders Place Their Bets

In other news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last ninety days. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Down 1.9 %

NASDAQ AVGO opened at $228.53 on Wednesday. The business’s fifty day moving average is $227.24 and its 200-day moving average is $188.12. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 186.40, a PEG ratio of 2.42 and a beta of 1.02. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping 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 business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. Equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.03%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is 192.50%.

About Broadcom

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.