Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 20.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 446,698 shares of the semiconductor manufacturer’s stock after selling 112,569 shares during the period. Broadcom comprises about 1.5% of Artemis Investment Management LLP’s holdings, making the stock its 12th largest position. Artemis Investment Management LLP’s holdings in Broadcom were worth $103,562,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVGO. Dakota Community Bank & Trust NA raised its position in shares of Broadcom by 2.7% in the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after buying an additional 45 shares during the period. Defined Wealth Management LLC raised its position in shares of Broadcom by 0.4% in the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after buying an additional 47 shares during the period. Integrated Investment Consultants LLC raised its position in shares of Broadcom by 0.9% in the 4th quarter. Integrated Investment Consultants LLC now owns 5,392 shares of the semiconductor manufacturer’s stock worth $1,250,000 after buying an additional 47 shares during the period. Kades & Cheifetz LLC raised its position in shares of Broadcom by 0.8% in the 4th quarter. Kades & Cheifetz LLC now owns 6,623 shares of the semiconductor manufacturer’s stock worth $1,536,000 after buying an additional 51 shares during the period. Finally, Sivia Capital Partners LLC raised its position in shares of Broadcom by 0.5% in the 4th quarter. Sivia Capital Partners LLC now owns 9,584 shares of the semiconductor manufacturer’s stock worth $2,222,000 after buying an additional 52 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 3.5 %

NASDAQ:AVGO opened at $237.44 on Tuesday. The company has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. Broadcom Inc. has a one year low of $112.19 and a one year high of $251.88. The stock has a 50-day simple moving average of $202.01 and a 200 day simple moving average of $178.14. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion during 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 company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period last year, the firm earned $0.98 earnings per share. Sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.99%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Insiders Place Their Bets

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The sale 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 dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 over the last quarter. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on AVGO shares. Truist Financial increased their target price on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Evercore ISI raised their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Barclays raised their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Robert W. Baird raised their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.83.

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.