VisionPoint Advisory Group LLC Sells 394 Shares of Broadcom Inc. (NASDAQ:AVGO)

VisionPoint Advisory Group LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 14.3% in the 4th quarter, HoldingsChannel reports. The firm owned 2,368 shares of the semiconductor manufacturer’s stock after selling 394 shares during the quarter. VisionPoint Advisory Group LLC’s holdings in Broadcom were worth $549,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Capital Advisory Group Advisory Services LLC bought a new position in Broadcom in the 4th quarter valued at $357,000. Lane & Associates LLC raised its position in shares of Broadcom by 14.1% during the fourth quarter. Lane & Associates LLC now owns 1,519 shares of the semiconductor manufacturer’s stock worth $336,000 after acquiring an additional 188 shares during the last quarter. Physicians Financial Services Inc. raised its position in shares of Broadcom by 1.6% during the fourth quarter. Physicians Financial Services Inc. now owns 16,130 shares of the semiconductor manufacturer’s stock worth $3,740,000 after acquiring an additional 250 shares during the last quarter. O Neil Global Advisors Inc. raised its position in shares of Broadcom by 403.5% during the fourth quarter. O Neil Global Advisors Inc. now owns 173,947 shares of the semiconductor manufacturer’s stock worth $40,328,000 after acquiring an additional 139,398 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC raised its position in shares of Broadcom by 2.4% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,757 shares of the semiconductor manufacturer’s stock worth $1,335,000 after acquiring an additional 137 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the transaction, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 12,570 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $229.62, for a total value of $2,886,323.40. Following the completion of the transaction, the chief financial officer now directly owns 325,443 shares in the company, valued at $74,728,221.66. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

AVGO opened at $218.61 on Monday. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The firm has a market capitalization of $1.02 trillion, a PE ratio of 178.32, a PEG ratio of 2.37 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The business’s 50-day simple moving average is $230.09 and its 200 day simple moving average is $190.49.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.08%. Broadcom’s dividend payout ratio is currently 192.50%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AVGO. Truist Financial boosted their target price on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. TD Cowen boosted their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Barclays boosted their target price on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Susquehanna lifted their price objective on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. lifted their price objective on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average price target of $225.04.

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.