Fiduciary Group LLC Sells 57 Shares of Broadcom Inc. (NASDAQ:AVGO)

Fiduciary Group LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 686 shares of the semiconductor manufacturer’s stock after selling 57 shares during the period. Fiduciary Group LLC’s holdings in Broadcom were worth $766,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Retirement Systems of Alabama boosted its stake in shares of Broadcom by 1.5% during the 4th quarter. Retirement Systems of Alabama now owns 237,138 shares of the semiconductor manufacturer’s stock worth $264,705,000 after purchasing an additional 3,425 shares during the last quarter. Navis Wealth Advisors LLC purchased a new stake in Broadcom during the 4th quarter worth $203,000. MGO Private Wealth LLC bought a new position in Broadcom during the 4th quarter valued at $261,000. Meridian Wealth Partners LLC increased its holdings in Broadcom by 12.0% in the fourth quarter. Meridian Wealth Partners LLC now owns 289 shares of the semiconductor manufacturer’s stock valued at $322,000 after buying an additional 31 shares during the last quarter. Finally, Magnus Financial Group LLC raised its stake in Broadcom by 0.7% during the fourth quarter. Magnus Financial Group LLC now owns 1,815 shares of the semiconductor manufacturer’s stock worth $2,026,000 after acquiring an additional 13 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Down 0.1 %

Broadcom stock opened at $1,343.17 on Monday. The stock has a market cap of $622.45 billion, a price-to-earnings ratio of 49.82, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The business has a 50 day moving average price of $1,306.70 and a two-hundred day moving average price of $1,137.84.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.83 EPS. As a group, equities analysts forecast that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.56%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the sale, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the 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 completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Justine Page sold 110 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. UBS Group increased their target price on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Benchmark restated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Company 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.