Parker Financial LLC Reduces Holdings in Broadcom Inc. (NASDAQ:AVGO)

Parker Financial LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,806 shares of the semiconductor manufacturer’s stock after selling 90 shares during the quarter. Broadcom makes up approximately 0.2% of Parker Financial LLC’s investment portfolio, making the stock its 29th largest position. Parker Financial LLC’s holdings in Broadcom were worth $419,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. KFA Private Wealth Group LLC lifted its stake in shares of Broadcom by 2.5% in 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 lifted its stake in Broadcom by 2.7% during the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after acquiring an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC lifted its stake in Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after acquiring an additional 45 shares in the last quarter. Marest Capital LLC lifted its stake in Broadcom by 1.0% during the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after acquiring an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC lifted its stake in Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after acquiring an additional 47 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the 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 completion of the sale, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now directly 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 disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last quarter. 2.00% of the stock is owned by insiders.

Broadcom Trading Down 3.6 %

NASDAQ:AVGO opened at $218.61 on Friday. The stock’s 50 day moving average price is $230.09 and its 200 day moving average price is $189.79. The company has a market capitalization of $1.02 trillion, a PE ratio of 178.32, a P/E/G ratio of 2.39 and a beta of 1.02. 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 Inc. has a 52-week low of $119.76 and a 52-week 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 (EPS) 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 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 quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. On average, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AVGO. Jefferies Financial Group increased their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. increased their target price on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Truist Financial increased their target price on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Piper Sandler increased their target price on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $225.04.

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.