Roberts Glore & Co. Inc. IL Reduces Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Roberts Glore & Co. Inc. IL reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,208 shares of the semiconductor manufacturer’s stock after selling 84 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in Broadcom were worth $1,439,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Canton Hathaway LLC purchased a new stake in shares of Broadcom during the fourth quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom during the fourth quarter worth about $26,000. Bellevue Asset Management LLC purchased a new stake in shares of Broadcom during the fourth quarter worth about $33,000. Pin Oak Investment Advisors Inc. raised its stake in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares in the last quarter. Finally, Synergy Investment Management LLC bought a new position in Broadcom in the fourth quarter worth about $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. 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 stock an “overweight” rating in a research note on Friday, December 13th. Barclays increased their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Morgan Stanley increased their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Mizuho decreased their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Insider Buying and Selling

In related news, CFO Kirsten M. Spears sold 12,570 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $229.62, for a total value of $2,886,323.40. Following the sale, the chief financial officer now owns 325,443 shares in the company, valued at approximately $74,728,221.66. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by insiders.

Broadcom Trading Up 8.6 %

NASDAQ:AVGO opened at $194.96 on Friday. The company’s 50 day moving average price is $222.28 and its 200-day moving average price is $192.93. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a market cap of $913.85 billion, a price-to-earnings ratio of 159.02, a PEG ratio of 2.29 and a beta of 1.01.

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

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is currently 191.87%.

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.