Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,748 shares of the semiconductor manufacturer’s stock after selling 852 shares during the period. Elevated Capital Advisors LLC’s holdings in Broadcom were worth $1,796,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AVGO. Kiely Wealth Advisory Group Inc. acquired a new position in Broadcom during the second quarter worth $128,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Broadcom in the 2nd quarter valued at about $136,000. Inspire Advisors LLC acquired a new stake in Broadcom in the second quarter valued at approximately $211,000. RiverGlades Family Offices LLC purchased a new stake in shares of Broadcom during the 2nd quarter worth $210,000. Finally, Madison Wealth Partners Inc acquired a new position in shares of Broadcom during the second quarter worth $221,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AVGO shares. Bank of America increased their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their target price on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Jefferies Financial Group increased their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Robert W. Baird upped their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, TD Cowen lifted their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $223.54.

Broadcom Stock Performance

Shares of AVGO opened at $225.29 on Tuesday. The company has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 195.73, a PEG ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 1 year low of $109.02 and a 1 year high of $251.88. The company’s 50 day simple moving average is $198.03 and its 200 day simple moving average is $176.17.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. On average, sell-side analysts predict that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid 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 1.05%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

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.