Advocate Group LLC Decreases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Advocate Group LLC reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 11.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,509 shares of the semiconductor manufacturer’s stock after selling 451 shares during the period. Advocate Group LLC’s holdings in Broadcom were worth $3,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Morningstar Investment Services LLC grew its position in shares of Broadcom by 50.1% in the second quarter. Morningstar Investment Services LLC now owns 755 shares of the semiconductor manufacturer’s stock valued at $649,000 after purchasing an additional 252 shares in the last quarter. RMR Wealth Builders grew its position in Broadcom by 6.5% during the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock worth $5,284,000 after buying an additional 388 shares in the last quarter. Czech National Bank grew its position in Broadcom by 46.1% during the third quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock worth $59,909,000 after buying an additional 22,774 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Broadcom during the second quarter worth about $4,684,000. Finally, Aspen Grove Capital LLC grew its position in Broadcom by 3.5% during the second quarter. Aspen Grove Capital LLC now owns 1,486 shares of the semiconductor manufacturer’s stock worth $1,289,000 after buying an additional 50 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVGO. Barclays began coverage on Broadcom in a research note on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 price target for the company. Citigroup reaffirmed a “buy” rating and set a $1,100.00 price target on shares of Broadcom in a research note on Monday, December 11th. Cantor Fitzgerald lifted their price target on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Finally, StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Three equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,230.18.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,810 shares of company stock valued at $26,107,692. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Up 0.5 %

Shares of Broadcom stock traded up $6.68 during midday trading on Friday, hitting $1,325.41. The company had a trading volume of 1,985,552 shares, compared to its average volume of 4,170,809. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The stock has a market capitalization of $614.22 billion, a P/E ratio of 49.13, a P/E/G ratio of 2.78 and a beta of 1.26. The company has a 50 day moving average of $1,275.48 and a 200 day moving average of $1,065.08. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.83 EPS. On average, equities analysts predict that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

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.