Horan Capital Advisors LLC. Has $11.23 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Horan Capital Advisors LLC. lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 16.7% in the fourth quarter, HoldingsChannel reports. The fund owned 48,451 shares of the semiconductor manufacturer’s stock after selling 9,718 shares during the period. Broadcom makes up 3.8% of Horan Capital Advisors LLC.’s portfolio, making the stock its 5th largest position. Horan Capital Advisors LLC.’s holdings in Broadcom were worth $11,233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. KFA Private Wealth Group LLC lifted its holdings in Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after buying an additional 42 shares during the period. Dakota Community Bank & Trust NA raised its position in shares of Broadcom by 2.7% in the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after acquiring an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC lifted its stake in shares of Broadcom by 3.5% in the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after purchasing an additional 45 shares during the period. Marest Capital LLC boosted its position in shares of Broadcom by 1.0% during the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after purchasing an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC grew its stake in Broadcom by 0.4% during the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after purchasing an additional 47 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction that occurred 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 sale, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by insiders.

Broadcom Trading Up 0.1 %

Shares of AVGO stock opened at $187.48 on Wednesday. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a 50-day simple moving average of $225.50 and a two-hundred day simple moving average of $192.65. 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 company has a market capitalization of $878.79 billion, a price-to-earnings ratio of 152.92, a PEG ratio of 2.29 and a beta of 1.02.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.26%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is presently 191.87%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Jefferies Financial Group boosted their price target on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Citigroup boosted their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Evercore ISI raised their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Truist Financial lifted their price target on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Barclays increased their price objective on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.