Callahan Advisors LLC Decreases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Callahan Advisors LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.2% in the fourth quarter, HoldingsChannel reports. The fund owned 4,427 shares of the semiconductor manufacturer’s stock after selling 245 shares during the quarter. Callahan Advisors LLC’s holdings in Broadcom were worth $1,026,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Davidson Investment Advisors boosted its holdings in Broadcom by 37.1% in the 4th quarter. Davidson Investment Advisors now owns 136,086 shares of the semiconductor manufacturer’s stock worth $31,550,000 after acquiring an additional 36,857 shares during the period. Proactive Wealth Strategies LLC acquired a new stake in Broadcom during the fourth quarter worth about $207,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in Broadcom by 119.9% in the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 34,183 shares of the semiconductor manufacturer’s stock worth $7,925,000 after purchasing an additional 18,639 shares during the last quarter. Bfsg LLC grew its position in Broadcom by 12.5% in the 4th quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer’s stock worth $105,000 after purchasing an additional 50 shares during the last quarter. Finally, Davidson Trust Co. grew its position in Broadcom by 1.9% in the 4th quarter. Davidson Trust Co. now owns 7,582 shares of the semiconductor manufacturer’s stock worth $1,758,000 after purchasing an additional 144 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Down 3.6 %

AVGO stock opened at $218.61 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $1.02 trillion, a PE ratio of 178.32, a PEG ratio of 2.39 and a beta of 1.02. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The stock has a 50-day simple moving average of $230.09 and a two-hundred day simple moving average of $189.79.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share 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 business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal 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 issued a dividend of $0.59 per share. 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 dividend yield of 1.08%. Broadcom’s payout ratio is presently 191.87%.

Insider Transactions at Broadcom

In related news, Director Harry L. You sold 6,540 shares of the stock in a transaction on Tuesday, December 17th. The shares were 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 approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the transaction, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of several research analyst reports. Evercore ISI upped their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Robert W. Baird raised their target price on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. UBS Group raised their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, TD Cowen raised their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

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.