Advisors Management Group Inc. ADV Lowers Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Advisors Management Group Inc. ADV trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 1.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,137 shares of the semiconductor manufacturer’s stock after selling 69 shares during the period. Advisors Management Group Inc. ADV’s holdings in Broadcom were worth $1,191,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. bought a new position in Broadcom during the second quarter valued at about $128,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Broadcom during the 2nd quarter valued at approximately $136,000. RiverGlades Family Offices LLC purchased a new stake in shares of Broadcom during the 2nd quarter worth approximately $210,000. Disciplined Growth Investors Inc. MN bought a new stake in shares of Broadcom in the 2nd quarter worth approximately $228,000. Finally, Security National Bank of Sioux City Iowa IA purchased a new position in Broadcom in the second quarter valued at approximately $234,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

AVGO stock opened at $229.41 on Friday. The firm has a 50 day simple moving average of $200.02 and a two-hundred day simple moving average of $177.11. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market cap of $1.08 trillion, a PE ratio of 187.12, a P/E/G ratio of 2.35 and a beta of 1.03. Broadcom Inc. has a one year low of $109.02 and a one year high of $251.88.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The firm’s revenue was up 51.2% on a year-over-year basis. On average, analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. 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 is currently 192.50%.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, the chief executive officer now directly owns 842,836 shares in the company, valued at $202,246,926.56. This represents a 5.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 over the last ninety days. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AVGO. JPMorgan Chase & Co. raised their target price on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Cantor Fitzgerald boosted their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Barclays boosted their price target on shares of Broadcom from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, TD Cowen raised their price objective on shares of Broadcom from $210.00 to $240.00 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 given a buy rating to the company’s stock. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.54.

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.