Financial Perspectives Inc Sells 5,560 Shares of Broadcom Inc. (NASDAQ:AVGO)

Financial Perspectives Inc cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 14.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,705 shares of the semiconductor manufacturer’s stock after selling 5,560 shares during the quarter. Broadcom comprises 2.5% of Financial Perspectives Inc’s portfolio, making the stock its 11th biggest holding. Financial Perspectives Inc’s holdings in Broadcom were worth $7,582,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. AMF Tjanstepension AB raised its position in shares of Broadcom by 856.9% in the third quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock valued at $175,101,000 after purchasing an additional 908,585 shares during the period. Alpha Financial Partners LLC acquired a new position in Broadcom in the 3rd quarter valued at about $404,000. Wealth Group Ltd. raised its holdings in Broadcom by 900.0% in the 3rd quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock valued at $304,000 after acquiring an additional 1,584 shares during the period. Swedbank AB lifted its position in Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares during the last quarter. Finally, Howard Capital Management Group LLC boosted its holdings in shares of Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after acquiring an additional 2,908 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $218.61 on Friday. The stock has a market cap 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 12-month low of $119.76 and a 12-month high of $251.88. The business’s 50-day moving average price is $230.09 and its two-hundred day moving average price is $189.79.

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

Broadcom Increases Dividend

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

Insider Activity

In other Broadcom news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares of the company’s stock, valued at $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 is available at this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now directly owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock worth $44,964,800. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AVGO. 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. Bank of America increased their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Susquehanna boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Benchmark restated a “buy” rating and issued a $255.00 price target (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to 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.