Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Spire Wealth Management

Spire Wealth Management lowered its stake in Broadcom Inc. (NASDAQ:AVGOFree Report) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,090 shares of the semiconductor manufacturer’s stock after selling 37 shares during the quarter. Spire Wealth Management’s holdings in Broadcom were worth $4,227,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC boosted its position in Broadcom by 76.5% during the 3rd quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 13 shares during the period. Bollard Group LLC acquired a new stake in Broadcom during the 2nd quarter worth about $26,000. Macroview Investment Management LLC acquired a new stake in Broadcom during the 3rd quarter worth about $29,000. Indiana Trust & Investment Management CO acquired a new stake in Broadcom during the 3rd quarter worth about $32,000. Finally, VitalStone Financial LLC boosted its position in Broadcom by 71.4% during the 1st quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after acquiring an additional 25 shares during the period. Hedge funds and other institutional investors own 78.81% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $1,224.34 on Monday. The stock has a market cap of $573.16 billion, a PE ratio of 37.17, a P/E/G ratio of 2.26 and a beta of 1.25. The company has a current ratio of 2.82, a quick ratio of 2.56 and a debt-to-equity ratio of 1.57. Broadcom Inc. has a 1 year low of $572.10 and a 1 year high of $1,284.55. The stock’s 50 day simple moving average is $1,092.88 and its 200-day simple moving average is $952.85.

Broadcom (NASDAQ:AVGOGet Free Report) last released its quarterly earnings data on Thursday, December 7th. The semiconductor manufacturer reported $11.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.96 by $0.10. The business had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Broadcom had a return on equity of 73.43% and a net margin of 39.31%. Broadcom’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $9.75 earnings per share. Sell-side analysts forecast that Broadcom Inc. will post 42.76 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Wednesday, December 20th were given a dividend of $5.25 per share. The ex-dividend date of this dividend was Tuesday, December 19th. This is a boost from Broadcom’s previous quarterly dividend of $4.60. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.72%. Broadcom’s payout ratio is currently 63.75%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $1,300.00 price target on shares of Broadcom in a report on Monday, January 29th. Oppenheimer lifted their price target on Broadcom from $990.00 to $1,100.00 and gave the company an “outperform” rating in a report on Monday, December 4th. The Goldman Sachs Group reiterated a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Susquehanna lifted their price target on Broadcom from $1,010.00 to $1,100.00 and gave the company a “positive” rating in a report on Tuesday, November 28th. Finally, Citigroup reiterated a “buy” rating and set a $1,100.00 price target on shares of Broadcom in a report on Monday, December 11th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $981.45.

Read Our Latest Report on AVGO

Insider Activity

In other news, CEO Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $1,089.69, for a total transaction of $21,793,800.00. Following the sale, the chief executive officer now directly owns 229,796 shares in the company, valued at $250,406,403.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the transaction, the chief financial officer now owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $1,089.69, for a total value of $21,793,800.00. Following the completion of the transaction, the chief executive officer now directly owns 229,796 shares in the company, valued at approximately $250,406,403.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,443 shares of company stock worth $50,151,532. Company insiders own 2.20% of the company’s stock.

Broadcom Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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