Transcendent Capital Group LLC Sells 1,526 Shares of Broadcom Inc. (NASDAQ:AVGO)

Transcendent Capital Group LLC reduced its holdings in Broadcom Inc. (NASDAQ:AVGO) by 28.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,918 shares of the semiconductor manufacturer’s stock after selling 1,526 shares during the period. Transcendent Capital Group LLC’s holdings in Broadcom were worth $908,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Trifecta Capital Advisors LLC increased its position in shares of Broadcom by 3.5% in the fourth quarter. Trifecta Capital Advisors LLC now owns 36,828 shares of the semiconductor manufacturer’s stock valued at $8,538,000 after acquiring an additional 1,232 shares during the last quarter. Mengis Capital Management Inc. boosted its position in Broadcom by 99.8% during the fourth quarter. Mengis Capital Management Inc. now owns 4,304 shares of the semiconductor manufacturer’s stock valued at $998,000 after purchasing an additional 2,150 shares during the last quarter. Coyle Financial Counsel LLC grew its stake in Broadcom by 1,144.1% in the fourth quarter. Coyle Financial Counsel LLC now owns 1,580 shares of the semiconductor manufacturer’s stock valued at $366,000 after purchasing an additional 1,453 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its position in shares of Broadcom by 2.0% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 6,469 shares of the semiconductor manufacturer’s stock worth $1,500,000 after purchasing an additional 128 shares during the last quarter. Finally, Prasad Wealth Partners LLC bought a new stake in shares of Broadcom during the 4th quarter worth approximately $306,000. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % 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 business’s stock in a transaction dated 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 completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 2.6 %

Shares of Broadcom stock opened at $202.54 on Wednesday. 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 firm has a 50-day moving average of $228.49 and a 200-day moving average of $191.31. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The stock has a market cap of $949.38 billion, a PE ratio of 165.21, a PEG ratio of 2.29 and a beta of 1.02.

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

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.17%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 191.87%.

Analysts Set New Price Targets

AVGO has been the subject of several analyst reports. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Piper Sandler increased their price target on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Benchmark restated a “buy” rating and set a $255.00 price objective (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Citigroup upped their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Susquehanna lifted 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-four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

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.