Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 10.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,466 shares of the semiconductor manufacturer’s stock after selling 4,495 shares during the quarter. Broadcom makes up 1.5% of Oliver Luxxe Assets LLC’s portfolio, making the stock its 8th biggest position. Oliver Luxxe Assets LLC’s holdings in Broadcom were worth $8,918,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Richardson Financial Services Inc. lifted its holdings in shares of Broadcom by 2.4% in the third quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock worth $415,000 after buying an additional 59 shares in the last quarter. Delta Investment Management LLC increased its holdings in Broadcom by 14.9% during the 2nd quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock worth $818,000 after acquiring an additional 66 shares during the period. Raab & Moskowitz Asset Management LLC lifted its stake in Broadcom by 6.2% in the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 1,156 shares of the semiconductor manufacturer’s stock worth $1,856,000 after purchasing an additional 67 shares in the last quarter. Decatur Capital Management Inc. boosted its holdings in Broadcom by 2.2% in the 2nd quarter. Decatur Capital Management Inc. now owns 3,166 shares of the semiconductor manufacturer’s stock valued at $5,083,000 after purchasing an additional 68 shares during the period. Finally, Kathmere Capital Management LLC increased its holdings in shares of Broadcom by 11.3% in the second quarter. Kathmere Capital Management LLC now owns 672 shares of the semiconductor manufacturer’s stock worth $1,079,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

AVGO traded up $3.06 during mid-day trading on Monday, reaching $235.61. 22,877,378 shares of the company traded hands, compared to its average volume of 26,197,266. Broadcom Inc. has a 52-week low of $105.20 and a 52-week high of $251.88. The company’s fifty day moving average price is $191.27 and its 200-day moving average price is $173.87. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $1.10 trillion, a P/E ratio of 204.70, a P/E/G ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 EPS. On average, sell-side analysts expect that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. Broadcom’s payout ratio is presently 191.87%.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value 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. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,128 shares of company stock worth $29,820,640 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AVGO. Morgan Stanley lifted their price objective on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. TD Cowen upped their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Piper Sandler lifted their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Truist Financial increased their price target on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, William Blair began coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.88.

Broadcom 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.