DHK Financial Advisors Inc. Sells 617 Shares of Broadcom Inc. (NASDAQ:AVGO)

DHK Financial Advisors Inc. reduced its holdings in Broadcom Inc. (NASDAQ:AVGO) by 25.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,766 shares of the semiconductor manufacturer’s stock after selling 617 shares during the quarter. DHK Financial Advisors Inc.’s holdings in Broadcom were worth $409,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. KFA Private Wealth Group LLC boosted its stake in Broadcom by 2.5% during the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after purchasing an additional 42 shares during the last quarter. Dakota Community Bank & Trust NA boosted its position in shares of Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after buying an additional 45 shares during the last quarter. Bryant Woods Investment Advisors LLC grew its holdings in Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after buying an additional 45 shares in the last quarter. Defined Wealth Management LLC raised its position in Broadcom by 0.4% in the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after buying an additional 47 shares during the last quarter. Finally, Integrated Investment Consultants LLC boosted its holdings in Broadcom by 0.9% during the 4th quarter. Integrated Investment Consultants LLC now owns 5,392 shares of the semiconductor manufacturer’s stock worth $1,250,000 after acquiring an additional 47 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the transaction, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. 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. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $221.27 on Friday. The company has a 50 day moving average of $212.27 and a 200 day moving average of $181.58. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1.04 trillion, a P/E ratio of 180.48, a P/E/G ratio of 2.16 and a beta of 1.03. Broadcom Inc. has a 12 month low of $117.43 and a 12 month high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results 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. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The business’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.07%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AVGO shares. Susquehanna increased their target price on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Truist Financial upped their target price on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. Benchmark reiterated a “buy” rating and set a $255.00 price target (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Finally, Mizuho boosted their price objective on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Three 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

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.