SNS Financial Group LLC Has $322,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

SNS Financial Group LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,388 shares of the semiconductor manufacturer’s stock after selling 127 shares during the quarter. SNS Financial Group LLC’s holdings in Broadcom were worth $322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AVGO. AMF Tjanstepension AB grew its position in shares of Broadcom by 856.9% in the third quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock valued at $175,101,000 after purchasing an additional 908,585 shares during the last quarter. Alpha Financial Partners LLC acquired a new position in shares of Broadcom in the third quarter valued at approximately $404,000. Wealth Group Ltd. grew its position in shares of Broadcom by 900.0% in the third quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock valued at $304,000 after purchasing an additional 1,584 shares during the last quarter. Swedbank AB boosted its stake in shares of Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after buying an additional 16,453,718 shares during the period. Finally, Howard Capital Management Group LLC boosted its stake in shares of Broadcom by 2,219.8% in the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after buying an additional 2,908 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Down 3.6 %

Shares of AVGO opened at $218.61 on Friday. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The stock has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 178.32, a PEG ratio of 2.39 and a beta of 1.02. 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 fifty day moving average of $230.09 and a 200-day moving average of $189.79.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.08%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 191.87%.

Insider Activity at Broadcom

In related news, 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 completion of the sale, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 over the last three months. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft boosted their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Robert W. Baird boosted their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Barclays boosted their price target on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Bank of America boosted their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.