Albion Financial Group UT Has $29.46 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Albion Financial Group UT reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,088 shares of the semiconductor manufacturer’s stock after selling 4,165 shares during the quarter. Broadcom comprises about 2.0% of Albion Financial Group UT’s portfolio, making the stock its 12th largest position. Albion Financial Group UT’s holdings in Broadcom were worth $29,464,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NCP Inc. grew its position in Broadcom by 615.4% in the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after acquiring an additional 400 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Broadcom by 257.1% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,167 shares of the semiconductor manufacturer’s stock valued at $19,535,000 after purchasing an additional 8,760 shares during the last quarter. Legal & General Group Plc lifted its stake in Broadcom by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer’s stock valued at $6,362,816,000 after purchasing an additional 83,846 shares during the last quarter. Shellback Capital LP acquired a new stake in Broadcom in the second quarter valued at approximately $60,368,000. Finally, Sender Co & Partners Inc. grew its stake in shares of Broadcom by 40.2% during the second quarter. Sender Co & Partners Inc. now owns 848 shares of the semiconductor manufacturer’s stock worth $1,361,000 after buying an additional 243 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the transaction, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This represents a 17.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. The trade was a 5.90 % 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 worth $44,964,800 over the last three months. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

AVGO has been the topic of several recent research reports. Cantor Fitzgerald raised their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. TD Cowen upped their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Citigroup lifted their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Mizuho upped their price target on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, Susquehanna lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $225.83.

Broadcom Stock Up 1.8 %

Broadcom stock opened at $244.70 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market cap of $1.15 trillion, a PE ratio of 199.59, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03. Broadcom Inc. has a fifty-two week low of $117.43 and a fifty-two week high of $251.88. The firm’s 50-day simple moving average is $207.20 and its 200 day simple moving average is $180.10.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business 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 firm earned $0.98 earnings per share. The business’s revenue was up 51.2% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal 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 given a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 0.96%. Broadcom’s payout ratio is currently 192.50%.

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.