GoalVest Advisory LLC Lowers Position in Broadcom Inc. (NASDAQ:AVGO)

GoalVest Advisory LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,360 shares of the semiconductor manufacturer’s stock after selling 738 shares during the period. Broadcom makes up approximately 0.8% of GoalVest Advisory LLC’s portfolio, making the stock its 20th biggest holding. GoalVest Advisory LLC’s holdings in Broadcom were worth $2,865,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. NCP Inc. increased its position in Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 400 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Broadcom by 257.1% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,167 shares of the semiconductor manufacturer’s stock worth $19,535,000 after acquiring an additional 8,760 shares in the last quarter. Legal & General Group Plc increased its position in shares of Broadcom by 2.2% in the second quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer’s stock worth $6,362,816,000 after acquiring an additional 83,846 shares in the last quarter. Shellback Capital LP purchased a new position in shares of Broadcom in the 2nd quarter valued at $60,368,000. Finally, Sender Co & Partners Inc. lifted its holdings in shares of Broadcom by 40.2% during the 2nd quarter. Sender Co & Partners Inc. now owns 848 shares of the semiconductor manufacturer’s stock valued at $1,361,000 after acquiring an additional 243 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of AVGO stock opened at $244.70 on Friday. The company has a market cap of $1.15 trillion, a P/E ratio of 199.59, a PEG ratio of 2.52 and a beta of 1.03. The business has a 50 day moving average of $207.20 and a two-hundred day moving average of $180.10. Broadcom Inc. has a 52 week low of $117.43 and a 52 week high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 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 the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s revenue was up 51.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. As a group, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.96%. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent research reports. Benchmark reiterated a “buy” rating and issued a $255.00 price target (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Robert W. Baird increased their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. Finally, Piper Sandler boosted their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $225.83.

Insiders Place Their Bets

In related news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Harry L. You sold 6,540 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock worth $44,964,800. Insiders own 2.00% of the company’s stock.

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.