Meridian Financial LLC Sells 600 Shares of Broadcom Inc. (NASDAQ:AVGO)

Meridian Financial LLC reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 36.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,040 shares of the semiconductor manufacturer’s stock after selling 600 shares during the quarter. Meridian Financial LLC’s holdings in Broadcom were worth $241,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Castleview Partners LLC lifted its position in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 134 shares during the period. Pin Oak Investment Advisors Inc. raised its stake in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. JDM Financial Group LLC lifted its holdings in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at $37,000. Finally, Tsfg LLC grew its holdings in shares of Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 over the last ninety days. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Bank of America boosted their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. TD Cowen increased their price target on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Robert W. Baird lifted their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Finally, Evercore ISI upped their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.83.

Broadcom Stock Performance

Shares of AVGO opened at $237.44 on Tuesday. The firm’s 50 day moving average price is $202.01 and its two-hundred day moving average price is $178.14. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a twelve month low of $112.19 and a twelve month high of $251.88. The firm has a market cap of $1.11 trillion, a P/E ratio of 193.67, a PEG ratio of 2.35 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 28.00% and a net margin of 11.43%. The company’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. On average, analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

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.