Stablepoint Partners LLC Has $11.60 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Stablepoint Partners LLC lessened its position in Broadcom Inc. (NASDAQ:AVGO) by 2.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,052 shares of the semiconductor manufacturer’s stock after selling 1,059 shares during the period. Broadcom makes up 2.1% of Stablepoint Partners LLC’s holdings, making the stock its 3rd largest position. Stablepoint Partners LLC’s holdings in Broadcom were worth $11,604,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Castleview Partners LLC raised its position in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares during the period. Pin Oak Investment Advisors Inc. raised its holdings 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. Retirement Wealth Solutions LLC purchased a new stake in Broadcom during the fourth quarter valued at about $37,000. JDM Financial Group LLC boosted its holdings in shares of Broadcom by 1,323.1% in 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. Finally, Tsfg LLC increased its position in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 204 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was 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 of the company’s stock, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. 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 owned by company insiders.

Analyst Ratings Changes

AVGO has been the subject of a number of recent analyst reports. Bank of America raised their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Evercore ISI lifted their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. JPMorgan Chase & Co. increased their price objective on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Piper Sandler lifted their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Barclays increased their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Stock Up 2.7 %

Broadcom stock opened at $207.55 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a fifty-two week low of $117.43 and a fifty-two week high of $251.88. The firm has a fifty day moving average price of $209.53 and a two-hundred day moving average price of $180.81. The firm has a market cap of $972.85 billion, a price-to-earnings ratio of 169.29, a P/E/G ratio of 2.52 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 EPS. As a group, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed 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 of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.14%. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

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.