Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 237,537 shares of the semiconductor manufacturer’s stock after selling 8,394 shares during the period. Broadcom makes up approximately 1.8% of Dana Investment Advisors Inc.’s holdings, making the stock its 6th largest holding. Dana Investment Advisors Inc.’s holdings in Broadcom were worth $55,071,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AVGO. Wealth Group Ltd. increased its holdings in Broadcom by 900.0% in the third quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock valued at $304,000 after buying an additional 1,584 shares in the last quarter. Swedbank AB increased its holdings in Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after buying an additional 16,453,718 shares in the last quarter. Howard Capital Management Group LLC increased its holdings in Broadcom by 2,219.8% in the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after buying an additional 2,908 shares in the last quarter. Pettinga Financial Advisors LLC increased its holdings in Broadcom by 896.9% in the third quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer’s stock valued at $502,000 after buying an additional 2,619 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV increased its holdings in Broadcom by 900.0% in the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,290 shares of the semiconductor manufacturer’s stock valued at $913,000 after buying an additional 4,761 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In related news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction on 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 transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction 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 owns 46,400 shares in the company, valued at $10,655,296. The trade was 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. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Truist Financial raised their price objective on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Evercore ISI raised their price objective on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Bank of America raised their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Broadcom Stock Up 2.2 %

Shares of AVGO opened at $191.58 on Thursday. The firm has a market cap of $898.00 billion, a PE ratio of 156.27, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company’s fifty day moving average is $224.53 and its two-hundred day moving average is $192.64. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. 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 (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter last year, the business earned $0.98 EPS. Analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.23%. Broadcom’s payout ratio is presently 191.87%.

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.