JB Capital LLC Decreases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

JB Capital LLC reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,061 shares of the semiconductor manufacturer’s stock after selling 1,444 shares during the period. Broadcom accounts for approximately 1.5% of JB Capital LLC’s portfolio, making the stock its 14th largest position. JB Capital LLC’s holdings in Broadcom were worth $26,212,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Means Investment CO. Inc. increased its holdings in shares of Broadcom by 14.1% during the fourth quarter. Means Investment CO. Inc. now owns 7,010 shares of the semiconductor manufacturer’s stock valued at $1,625,000 after acquiring an additional 866 shares in the last quarter. Oak Family Advisors LLC bought a new stake in Broadcom during the 4th quarter valued at about $253,000. Family Investment Center Inc. raised its holdings in Broadcom by 48.5% in the fourth quarter. Family Investment Center Inc. now owns 1,809 shares of the semiconductor manufacturer’s stock worth $419,000 after buying an additional 591 shares during the last quarter. Magnolia Capital Advisors LLC lifted its stake in shares of Broadcom by 5.2% in the fourth quarter. Magnolia Capital Advisors LLC now owns 12,853 shares of the semiconductor manufacturer’s stock worth $2,980,000 after buying an additional 633 shares in the last quarter. Finally, KPP Advisory Services LLC increased its position in shares of Broadcom by 4.3% during the fourth quarter. KPP Advisory Services LLC now owns 5,999 shares of the semiconductor manufacturer’s stock valued at $1,391,000 after acquiring an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 4.3 %

Shares of Broadcom stock opened at $232.00 on Thursday. The firm has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 189.23, a PEG ratio of 2.31 and a beta of 1.02. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The firm’s 50 day simple moving average is $215.62 and its two-hundred day simple moving average is $183.06.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. Analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.02%. Broadcom’s dividend payout ratio is presently 192.50%.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Piper Sandler upped their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Evercore ISI boosted their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Susquehanna upped 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, Truist Financial lifted their target price on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. The trade was a 5.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harry L. You sold 6,540 shares of the 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 in the company, valued at $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

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.