Annex Advisory Services LLC Sells 1,397 Shares of Broadcom Inc. (NASDAQ:AVGO)

Annex Advisory Services LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 38,665 shares of the semiconductor manufacturer's stock after selling 1,397 shares during the period. Annex Advisory Services LLC's holdings in Broadcom were worth $8,964,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NCP Inc. boosted its stake in shares of Broadcom by 615.4% in the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer's stock valued at $747,000 after purchasing an additional 400 shares in the last quarter. Harmony Asset Management LLC lifted its stake in Broadcom by 9.5% in the second quarter. Harmony Asset Management LLC now owns 944 shares of the semiconductor manufacturer's stock worth $1,515,000 after purchasing an additional 82 shares during the last quarter. Beck Capital Management LLC lifted its stake in Broadcom by 1.7% in the second quarter. Beck Capital Management LLC now owns 4,340 shares of the semiconductor manufacturer's stock worth $6,968,000 after purchasing an additional 72 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Broadcom by 36.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 242,040 shares of the semiconductor manufacturer's stock valued at $388,602,000 after acquiring an additional 64,876 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its holdings in Broadcom by 2.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 6,093 shares of the semiconductor manufacturer's stock valued at $9,783,000 after acquiring an additional 123 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Harry L. You sold 6,540 shares of the company's 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 transaction, the director now directly owns 30,450 shares of the company's stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 in the last quarter. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Up 1.2 %

NASDAQ AVGO traded up $2.87 during trading hours on Tuesday, reaching $240.31. 30,766,885 shares of the company's stock traded hands, compared to its average volume of 25,676,523. The firm has a 50-day simple moving average of $203.18 and a 200 day simple moving average of $178.65. Broadcom Inc. has a 52-week low of $117.43 and a 52-week high of $251.88. The firm has a market cap of $1.13 trillion, a PE ratio of 196.01, a PEG ratio of 2.48 and a beta of 1.03. 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 - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm's revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter last year, the company earned $0.98 EPS. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is currently 192.50%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Truist Financial boosted their price objective on Broadcom from $205.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Citigroup increased their price target 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. TD Cowen raised their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Jefferies Financial Group upped their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Finally, Robert W. Baird raised their target price on Broadcom from $195.00 to $210.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Three investment 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.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $225.83.

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.