Phillips Financial Management LLC Sells 194 Shares of Broadcom Inc. (NASDAQ:AVGO)

Phillips Financial Management LLC lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,318 shares of the semiconductor manufacturer’s stock after selling 194 shares during the quarter. Phillips Financial Management LLC’s holdings in Broadcom were worth $306,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. KFA Private Wealth Group LLC increased its stake in shares of Broadcom by 2.5% during the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after acquiring an additional 42 shares during the last quarter. Dakota Community Bank & Trust NA increased its position in Broadcom by 2.7% during the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after purchasing an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC increased its position in Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after purchasing an additional 45 shares in the last quarter. Marest Capital LLC increased its position in Broadcom by 1.0% during the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after purchasing an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC increased its position in Broadcom by 0.4% during the 4th 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 in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Citigroup upped their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. TD Cowen upped their price target on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. upped their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Susquehanna upped their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Price Performance

Shares of AVGO opened at $194.23 on Thursday. The stock’s fifty day moving average is $219.67 and its 200-day moving average is $193.45. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The firm has a market capitalization of $913.26 billion, a price-to-earnings ratio of 158.43, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the business posted $0.98 earnings per share. The company’s quarterly revenue was up 51.2% on a year-over-year basis. Equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.22%. Broadcom’s dividend payout ratio is currently 113.46%.

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.