Joel Isaacson & Co. LLC Sells 385 Shares of Broadcom Inc. (NASDAQ:AVGO)

Joel Isaacson & Co. LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,385 shares of the semiconductor manufacturer’s stock after selling 385 shares during the period. Joel Isaacson & Co. LLC’s holdings in Broadcom were worth $2,639,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Castleview Partners LLC grew 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 worth $25,000 after buying an additional 134 shares during the period. Pin Oak Investment Advisors Inc. boosted its stake in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Broadcom during the 4th quarter worth $37,000. R Squared Ltd bought a new stake in shares of Broadcom during the 4th quarter valued at $39,000. Finally, JDM Financial Group LLC lifted its stake in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Up 4.5 %

Broadcom stock opened at $235.04 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a fifty day simple moving average of $219.76 and a 200 day simple moving average of $184.56. The company has a market cap of $1.10 trillion, a P/E ratio of 191.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the company earned $0.98 EPS. Broadcom’s revenue for the quarter was up 51.2% compared to the same quarter last year. Research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal 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 dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 192.50%.

Analyst Ratings Changes

A number of equities research analysts recently commented on AVGO shares. UBS Group lifted their price objective on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Morgan Stanley decreased their target price on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Benchmark reiterated a “buy” rating and issued a $255.00 target price (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.04.

Insider Activity

In other news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % 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 valued at $44,964,800. 2.00% of the stock is owned by insiders.

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.