Intergy Private Wealth LLC Sells 71 Shares of Broadcom Inc. (NASDAQ:AVGO)

Intergy Private Wealth LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.8% during the 4th quarter, Holdings Channel reports. The firm owned 3,931 shares of the semiconductor manufacturer’s stock after selling 71 shares during the quarter. Intergy Private Wealth LLC’s holdings in Broadcom were worth $911,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Castleview Partners LLC boosted its position in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. boosted its holdings in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in Broadcom in the fourth quarter worth approximately $37,000. R Squared Ltd bought a new position in Broadcom in the fourth quarter worth approximately $39,000. Finally, JDM Financial Group LLC boosted its holdings in 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 acquiring an additional 172 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $221.27 on Monday. The firm has a market cap of $1.04 trillion, a PE ratio of 180.48, a PEG ratio of 2.16 and a beta of 1.03. The stock’s fifty day moving average price is $213.41 and its two-hundred day moving average price is $182.02. 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 1 year low of $117.43 and a 1 year high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business’s revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

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

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now owns 113,050 shares in the company, valued at approximately $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. In the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Cantor Fitzgerald increased their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Truist Financial increased their price target on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Citigroup increased their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, TD Cowen raised their target price on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.