Fortem Financial Group LLC Sells 230 Shares of Broadcom Inc. (NASDAQ:AVGO)

Fortem Financial Group LLC lessened its position in Broadcom Inc. (NASDAQ:AVGO) by 0.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,288 shares of the semiconductor manufacturer’s stock after selling 230 shares during the quarter. Broadcom makes up about 2.9% of Fortem Financial Group LLC’s holdings, making the stock its 5th biggest holding. Fortem Financial Group LLC’s holdings in Broadcom were worth $7,486,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Castleview Partners LLC lifted its position in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. lifted its position in Broadcom by 900.0% in the 3rd 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. JDM Financial Group LLC boosted its stake in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the period. Tsfg LLC grew its holdings in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 204 shares in the last quarter. Finally, Cedar Wealth Management LLC increased its stake in shares of Broadcom by 900.0% in the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after acquiring an additional 216 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of research reports. UBS Group lifted their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research note on Wednesday, December 11th. Susquehanna raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Barclays boosted their target price on shares of Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Morgan Stanley lifted their price objective on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.88.

Broadcom Stock Performance

AVGO stock traded up $3.06 during trading on Monday, reaching $235.61. 22,877,378 shares of the stock were exchanged, compared to its average volume of 26,197,266. The stock has a 50 day simple moving average of $191.27 and a 200-day simple moving average of $173.87. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $1.10 trillion, a P/E ratio of 204.70, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a twelve month low of $105.20 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period last year, the business earned $0.98 earnings per share. As a group, sell-side analysts anticipate that Broadcom Inc. will post 3.79 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. Investors of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 191.87%.

Insiders Place Their Bets

In related news, Director Harry L. You sold 6,540 shares of the stock in a transaction dated Tuesday, December 17th. The shares were 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 trade represents a 17.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,128 shares of company stock worth $29,820,640 over the last quarter. Company insiders own 2.00% of the company’s stock.

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.