Greater Midwest Financial Group LLC Cuts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Greater Midwest Financial Group LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,171 shares of the semiconductor manufacturer’s stock after selling 1,754 shares during the quarter. Broadcom makes up 4.7% of Greater Midwest Financial Group LLC’s portfolio, making the stock its 8th largest position. Greater Midwest Financial Group LLC’s holdings in Broadcom were worth $7,965,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Legend Financial Advisors Inc. lifted its position in Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 8 shares in the last quarter. Richardson Capital Management LLC acquired a new position in Broadcom in the 1st quarter valued at about $29,000. Delta Asset Management LLC TN grew its stake in Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new position in Broadcom in the 1st quarter valued at about $36,000. Finally, Tsfg LLC grew its stake in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 204 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Up 2.7 %

Shares of AVGO opened at $181.53 on Friday. Broadcom Inc. has a twelve month low of $81.83 and a twelve month high of $186.42. The company has a market cap of $845.00 billion, a P/E ratio of 7.81, a P/E/G ratio of 2.99 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company’s fifty day simple moving average is $165.88 and its 200-day simple moving average is $152.92.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the firm posted $0.95 EPS. The firm’s revenue was up 47.3% compared to the same quarter last year. As a group, analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.17%. Broadcom’s payout ratio is presently 9.12%.

Analysts Set New Price Targets

AVGO has been the topic of a number of analyst reports. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. William Blair began coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Bank of America reaffirmed a “buy” rating and set a $215.00 price target (up previously from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Finally, UBS Group cut their price target on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.54.

Broadcom Company 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.