Bay Colony Advisory Group Inc d b a Bay Colony Advisors Has $4.97 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,452 shares of the semiconductor manufacturer’s stock after selling 1,760 shares during the quarter. Broadcom comprises approximately 0.7% of Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings, making the stock its 23rd largest holding. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Broadcom were worth $4,973,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. raised its stake in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares during the period. Canton Hathaway LLC acquired a new stake in Broadcom during the 4th quarter worth $26,000. JDM Financial Group LLC raised its stake in Broadcom by 1,323.1% during the 3rd 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. Bellevue Asset Management LLC acquired a new stake in Broadcom during the 4th quarter worth $33,000. Finally, Synergy Investment Management LLC acquired a new stake in Broadcom during the 4th quarter worth $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $179.45 on Friday. The firm’s fifty day moving average price is $223.22 and its two-hundred day moving average price is $192.55. The stock has a market cap of $841.15 billion, a PE ratio of 146.37, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. 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 (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping 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%. The company’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.32%. Broadcom’s payout ratio is presently 191.87%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research analyst reports. Mizuho raised their price objective on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Truist Financial lifted their price target on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Citigroup lifted their price target on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Morgan Stanley dropped their price target on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Evercore ISI lifted their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

Insiders Place Their Bets

In related news, Director Check Kian Low sold 48,000 shares of the business’s 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 owns 113,050 shares of the company’s stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % 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 currently owned by insiders.

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.