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

Larson Financial Group LLC cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,901 shares of the semiconductor manufacturer’s stock after selling 453 shares during the period. Larson Financial Group LLC’s holdings in Broadcom were worth $6,587,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PSI Advisors LLC boosted its holdings in Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares during the period. BKM Wealth Management LLC purchased a new stake in Broadcom during the 4th quarter worth about $29,000. CKW Financial Group purchased a new stake in Broadcom during the 4th quarter worth about $30,000. Macroview Investment Management LLC purchased a new stake in Broadcom during the 3rd quarter worth about $29,000. Finally, PrairieView Partners LLC lifted its holdings in Broadcom by 178.6% during the 4th quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock worth $44,000 after buying an additional 25 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the sale, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

NASDAQ AVGO traded up $19.75 on Monday, hitting $1,224.46. 2,514,709 shares of the company’s stock were exchanged, compared to its average volume of 2,962,551. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The firm’s 50-day moving average price is $1,304.30 and its two-hundred day moving average price is $1,125.79. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The firm has a market cap of $567.44 billion, a price-to-earnings ratio of 45.38, a P/E/G ratio of 2.46 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter in the previous year, the firm posted $9.83 EPS. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. On average, research analysts expect that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent analyst reports. Barclays lifted their price target on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Benchmark reiterated a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a research report on Thursday, March 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

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.