Sfmg LLC Lowers Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Sfmg LLC trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 0.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,629 shares of the semiconductor manufacturer’s stock after selling 66 shares during the period. Sfmg LLC’s holdings in Broadcom were worth $3,624,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. boosted its position in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares during the period. Canton Hathaway LLC purchased a new stake in Broadcom in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom in the 4th quarter valued at about $26,000. JDM Financial Group LLC boosted its position in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the period. Finally, Bellevue Asset Management LLC purchased a new stake in shares of Broadcom in the 4th quarter worth approximately $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now owns 113,050 shares in the company, valued at $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 172,168 shares of company stock worth $40,508,877 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AVGO has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Benchmark reaffirmed a “buy” rating and issued a $255.00 price target on shares of Broadcom in a research report on Friday, March 7th. Susquehanna upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Truist Financial upped their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Trading Up 0.6 %

Shares of Broadcom stock opened at $191.66 on Friday. The firm has a market capitalization of $901.18 billion, a price-to-earnings ratio of 156.33, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The firm’s 50 day simple moving average is $214.38 and its two-hundred day simple moving average is $194.79. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. Broadcom’s payout ratio is currently 113.46%.

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.