Broadcom Inc. (NASDAQ:AVGO) Stock Position Lessened by Sunburst Financial Group LLC

Sunburst Financial Group LLC lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,027 shares of the semiconductor manufacturer’s stock after selling 67 shares during the period. Sunburst Financial Group LLC’s holdings in Broadcom were worth $702,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. G&S Capital LLC lifted its stake in Broadcom by 4.2% in the 4th quarter. G&S Capital LLC now owns 13,763 shares of the semiconductor manufacturer’s stock worth $3,191,000 after acquiring an additional 550 shares in the last quarter. MGB Wealth Management LLC lifted its stake in Broadcom by 1.4% in the 4th quarter. MGB Wealth Management LLC now owns 37,796 shares of the semiconductor manufacturer’s stock worth $8,808,000 after acquiring an additional 511 shares in the last quarter. One Plus One Wealth Management LLC lifted its stake in Broadcom by 2.1% in the 4th quarter. One Plus One Wealth Management LLC now owns 4,222 shares of the semiconductor manufacturer’s stock worth $979,000 after acquiring an additional 85 shares in the last quarter. Morris Financial Concepts Inc. raised its stake in shares of Broadcom by 6.8% during the 4th quarter. Morris Financial Concepts Inc. now owns 1,305 shares of the semiconductor manufacturer’s stock worth $303,000 after purchasing an additional 83 shares in the last quarter. Finally, Tranquility Partners LLC raised its stake in shares of Broadcom by 10.0% during the 4th quarter. Tranquility Partners LLC now owns 6,536 shares of the semiconductor manufacturer’s stock worth $1,515,000 after purchasing an additional 594 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Down 1.2 %

Shares of NASDAQ:AVGO opened at $233.04 on Monday. The company has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 190.08, a P/E/G ratio of 2.42 and a beta of 1.02. 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 business’s 50-day moving average is $226.16 and its 200-day moving average is $187.33. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data 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 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the business earned $0.98 EPS. The firm’s revenue was up 51.2% compared to the same quarter last year. Equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business 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 is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is currently 191.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AVGO shares. JPMorgan Chase & Co. raised their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Bank of America raised their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Susquehanna raised their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Citigroup raised their target price on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, UBS Group raised their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus 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.