Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Bouchey Financial Group Ltd

Bouchey Financial Group Ltd trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 18.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,078 shares of the semiconductor manufacturer’s stock after selling 470 shares during the period. Bouchey Financial Group Ltd’s holdings in Broadcom were worth $482,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AVGO. Hilltop Partners LLC boosted its stake in Broadcom by 4.0% in the fourth quarter. Hilltop Partners LLC now owns 12,529 shares of the semiconductor manufacturer’s stock valued at $2,905,000 after acquiring an additional 480 shares during the period. Verus Capital Partners LLC boosted its stake in Broadcom by 2.5% in the fourth quarter. Verus Capital Partners LLC now owns 6,540 shares of the semiconductor manufacturer’s stock valued at $1,516,000 after acquiring an additional 160 shares during the period. Fusion Capital LLC acquired a new position in Broadcom in the fourth quarter valued at approximately $231,000. Fort Sheridan Advisors LLC boosted its stake in Broadcom by 12.3% in the fourth quarter. Fort Sheridan Advisors LLC now owns 7,558 shares of the semiconductor manufacturer’s stock valued at $1,752,000 after acquiring an additional 828 shares during the period. Finally, QRG Capital Management Inc. boosted its stake in Broadcom by 4.4% in the fourth quarter. QRG Capital Management Inc. now owns 936,029 shares of the semiconductor manufacturer’s stock valued at $217,009,000 after acquiring an additional 39,322 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $199.29 on Friday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a market cap of $934.16 billion, a price-to-earnings ratio of 162.56, a PEG ratio of 2.29 and a beta of 1.02. The stock’s 50 day moving average price is $227.44 and its 200 day moving average price is $191.86. 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 (NASDAQ:AVGO) last posted 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 analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. Equities 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 declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.18%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 191.87%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Barclays lifted their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Rosenblatt Securities restated a “buy” rating and issued a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft lifted their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Benchmark reaffirmed a “buy” rating and set a $255.00 price target (up previously 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 issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.