Broadcom Inc. (NASDAQ:AVGO) Position Reduced by Sanctuary Advisors LLC

Sanctuary Advisors LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 813,658 shares of the semiconductor manufacturer’s stock after selling 25,268 shares during the period. Broadcom accounts for about 1.1% of Sanctuary Advisors LLC’s holdings, making the stock its 10th biggest position. Sanctuary Advisors LLC’s holdings in Broadcom were worth $175,473,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rational Advisors LLC lifted its holdings in shares of Broadcom by 17.8% in the fourth quarter. Rational Advisors LLC now owns 3,349 shares of the semiconductor manufacturer’s stock worth $776,000 after buying an additional 506 shares in the last quarter. Catalyst Capital Advisors LLC lifted its stake in Broadcom by 15.1% in the 4th quarter. Catalyst Capital Advisors LLC now owns 4,348 shares of the semiconductor manufacturer’s stock worth $1,008,000 after purchasing an additional 570 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Broadcom by 12.2% in the 4th quarter. Principal Financial Group Inc. now owns 8,061,598 shares of the semiconductor manufacturer’s stock worth $1,869,001,000 after purchasing an additional 879,189 shares in the last quarter. Total Investment Management Inc. purchased a new position in shares of Broadcom during the 4th quarter valued at $232,000. Finally, Americana Partners LLC increased its holdings in shares of Broadcom by 440.0% in the fourth quarter. Americana Partners LLC now owns 182,617 shares of the semiconductor manufacturer’s stock worth $42,338,000 after purchasing an additional 148,796 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AVGO. Susquehanna lifted their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. TD Cowen raised their target price on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Citigroup lifted their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Bank of America increased their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $225.04.

Insider Activity

In related news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,278 shares of company stock worth $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $228.73 on Thursday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The stock has a market capitalization of $1.07 trillion, a P/E ratio of 186.57, a P/E/G ratio of 2.44 and a beta of 1.02. The company’s 50-day moving average is $229.29 and its 200 day moving average is $189.00. 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 earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 EPS. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.03%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

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.