Zhang Financial LLC Lowers Position in Broadcom Inc. (NASDAQ:AVGO)

Zhang Financial LLC lowered its holdings in Broadcom Inc. (NASDAQ:AVGO) by 7.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,039 shares of the semiconductor manufacturer’s stock after selling 154 shares during the quarter. Zhang Financial LLC’s holdings in Broadcom were worth $2,277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Beaumont Financial Advisors LLC increased its position in shares of Broadcom by 18.2% during the 4th quarter. Beaumont Financial Advisors LLC now owns 3,545 shares of the semiconductor manufacturer’s stock valued at $3,957,000 after purchasing an additional 545 shares during the last quarter. Ninepoint Partners LP increased its position in shares of Broadcom by 2.2% during the 4th quarter. Ninepoint Partners LP now owns 748 shares of the semiconductor manufacturer’s stock valued at $835,000 after purchasing an additional 16 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its position in shares of Broadcom by 7.8% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 9,800 shares of the semiconductor manufacturer’s stock valued at $10,939,000 after purchasing an additional 712 shares during the last quarter. HTLF Bank bought a new position in shares of Broadcom during the 4th quarter valued at about $11,592,000. Finally, Lafayette Investments Inc. increased its position in shares of Broadcom by 8.7% during the 4th quarter. Lafayette Investments Inc. now owns 313 shares of the semiconductor manufacturer’s stock valued at $349,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 3.3 %

Shares of Broadcom stock traded down $41.99 during trading on Friday, hitting $1,217.00. The company’s stock had a trading volume of 2,081,861 shares, compared to its average volume of 2,934,295. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The company has a fifty day simple moving average of $1,306.69 and a two-hundred day simple moving average of $1,116.18. The company has a market capitalization of $563.98 billion, a PE ratio of 45.98, a P/E/G ratio of 2.62 and a beta of 1.25. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period last year, the business earned $9.83 EPS. Equities research analysts predict that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Cantor Fitzgerald raised their price target on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Benchmark restated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Barclays raised their price target on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday. Oppenheimer restated an “outperform” rating and set a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Activity

In other news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the sale, the director now owns 45 shares in the company, valued at $62,465.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 over the last quarter. Insiders own 2.00% of the company’s stock.

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.