Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 1.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 344,574 shares of the semiconductor manufacturer’s stock after selling 3,707 shares during the quarter. Broadcom makes up approximately 2.0% of Gulf International Bank UK Ltd’s portfolio, making the stock its 8th biggest position. Gulf International Bank UK Ltd’s holdings in Broadcom were worth $79,886,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Canton Hathaway LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $26,000. Pin Oak Investment Advisors Inc. boosted its stake in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $37,000. R Squared Ltd acquired a new stake in Broadcom in the fourth quarter valued at approximately $39,000. Finally, JDM Financial Group LLC lifted its stake 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 worth $32,000 after buying an additional 172 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Truist Financial lifted their price objective on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Rosenblatt Securities restated a “buy” rating and set a $240.00 target price on shares of Broadcom in a research report on Wednesday, December 11th. Morgan Stanley decreased their target price on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Bank of America lifted their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, UBS Group lifted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Price Performance

AVGO opened at $199.29 on Friday. The stock has a market capitalization of $934.16 billion, a PE ratio of 162.56, a P/E/G ratio of 2.29 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. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The company’s 50 day simple moving average is $227.44 and its 200 day simple moving average is $191.86.

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

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given 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 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is presently 191.87%.

Insider Activity

In other news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by company insiders.

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.