Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,341 shares of the semiconductor manufacturer’s stock after selling 2,533 shares during the period. Broadcom accounts for 0.7% of Mount Yale Investment Advisors LLC’s investment portfolio, making the stock its 21st largest position. Mount Yale Investment Advisors LLC’s holdings in Broadcom were worth $8,425,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in AVGO. Webster Bank N. A. lifted its stake in shares of Broadcom by 2.4% in the 4th quarter. Webster Bank N. A. now owns 10,949 shares of the semiconductor manufacturer’s stock valued at $2,538,000 after purchasing an additional 256 shares during the last quarter. Center For Asset Management LLC lifted its position in Broadcom by 1.0% in the fourth quarter. Center For Asset Management LLC now owns 12,156 shares of the semiconductor manufacturer’s stock valued at $2,818,000 after buying an additional 115 shares during the last quarter. United Asset Strategies Inc. lifted its position in Broadcom by 1.4% in the fourth quarter. United Asset Strategies Inc. now owns 16,119 shares of the semiconductor manufacturer’s stock valued at $3,737,000 after buying an additional 223 shares during the last quarter. waypoint wealth counsel boosted its stake in Broadcom by 4.4% during the fourth quarter. waypoint wealth counsel now owns 3,916 shares of the semiconductor manufacturer’s stock worth $908,000 after buying an additional 165 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Broadcom by 34.6% in the 4th quarter. KBC Group NV now owns 3,465,337 shares of the semiconductor manufacturer’s stock worth $803,403,000 after acquiring an additional 890,437 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on AVGO shares. Piper Sandler boosted their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. UBS Group increased 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. Mizuho boosted their price target on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Truist Financial upped their price target on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Benchmark restated a “buy” rating and issued a $255.00 price objective (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Insider Buying and Selling at Broadcom

In other news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the sale, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. This represents a 69.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This trade represents a 5.90 % 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 in the last 90 days. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $206.35 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market cap of $967.24 billion, a PE ratio of 168.31, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03. The company has a 50-day simple moving average of $210.37 and a 200-day simple moving average of $181.05. Broadcom Inc. has a 12 month low of $117.43 and a 12 month high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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 company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the firm posted $0.98 EPS. Broadcom’s revenue was up 51.2% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.14%. This is a positive change 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 (DPR) is presently 192.50%.

About Broadcom

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.