Broadcom Inc. (NASDAQ:AVGO) Position Decreased by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 344,574 shares of the semiconductor manufacturer’s stock after selling 3,707 shares during the period. Broadcom makes up approximately 2.0% of Gulf International Bank UK Ltd’s portfolio, making the stock its 8th biggest holding. Gulf International Bank UK Ltd’s holdings in Broadcom were worth $79,886,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Canton Hathaway LLC purchased a new position in Broadcom in the fourth quarter valued at approximately $26,000. Pin Oak Investment Advisors Inc. lifted its position in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Broadcom during the fourth quarter worth $37,000. R Squared Ltd purchased a new stake in shares of Broadcom during the fourth quarter worth $39,000. Finally, JDM Financial Group LLC increased its holdings in shares of Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. UBS Group lifted their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Evercore ISI lifted their price objective on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. TD Cowen lifted their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group boosted their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Stock Performance

Broadcom stock opened at $199.29 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The firm has a market capitalization of $934.16 billion, a P/E ratio of 162.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. The company’s 50-day moving average is $227.44 and its 200 day moving average is $191.86.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. Research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced 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. The ex-dividend date was Monday, December 23rd. 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 dividend yield of 1.18%. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Insider Transactions at Broadcom

In other news, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the transaction, the director now directly owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by company insiders.

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.