Broadcom Inc. (NASDAQ:AVGO) Stake Lessened by B & T Capital Management DBA Alpha Capital Management

B & T Capital Management DBA Alpha Capital Management lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,431 shares of the semiconductor manufacturer's stock after selling 2,674 shares during the quarter. Broadcom comprises about 1.7% of B & T Capital Management DBA Alpha Capital Management's investment portfolio, making the stock its 17th biggest position. B & T Capital Management DBA Alpha Capital Management's holdings in Broadcom were worth $9,374,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. NCP Inc. grew its stake in shares of Broadcom by 615.4% in the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer's stock valued at $747,000 after buying an additional 400 shares in the last quarter. ProVise Management Group LLC acquired a new position in shares of Broadcom during the second quarter worth $318,000. AE Wealth Management LLC boosted its stake in shares of Broadcom by 20.5% in the second quarter. AE Wealth Management LLC now owns 4,681 shares of the semiconductor manufacturer's stock valued at $7,515,000 after purchasing an additional 797 shares during the period. Pacer Advisors Inc. increased its stake in Broadcom by 1.4% during the 2nd quarter. Pacer Advisors Inc. now owns 69,557 shares of the semiconductor manufacturer's stock worth $111,676,000 after buying an additional 931 shares during the period. Finally, Sei Investments Co. lifted its holdings in Broadcom by 9.8% in the 2nd quarter. Sei Investments Co. now owns 268,735 shares of the semiconductor manufacturer's stock worth $431,479,000 after buying an additional 23,949 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

Shares of AVGO traded up $8.03 during trading hours on Friday, reaching $237.44. 31,036,592 shares of the company's stock traded hands, compared to its average volume of 41,590,264. Broadcom Inc. has a twelve month low of $112.19 and a twelve month high of $251.88. The business's fifty day simple moving average is $202.01 and its two-hundred day simple moving average is $178.14. 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 firm has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 193.67, a P/E/G ratio of 2.35 and a beta of 1.03.

Broadcom (NASDAQ:AVGO - Get Free Report) last released 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 company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom's revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. Analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders 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 is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 0.99%. Broadcom's dividend payout ratio (DPR) is 192.50%.

Insider Transactions at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a 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 of the company's stock, valued at $10,655,296. This trade 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 valued at $44,964,800. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Citigroup upped their target price on Broadcom from $175.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $240.00 price target on shares of Broadcom in a report on Wednesday, December 11th. Piper Sandler raised their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. JPMorgan Chase & Co. lifted their price target on Broadcom from $210.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Finally, Bank of America increased their target price on Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $225.83.

Broadcom Company 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.