BOK Financial Private Wealth Inc. Reduces Holdings in Broadcom Inc. (NASDAQ:AVGO)

BOK Financial Private Wealth Inc. lowered its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,132 shares of the semiconductor manufacturer's stock after selling 3,355 shares during the period. Broadcom accounts for approximately 0.6% of BOK Financial Private Wealth Inc.'s holdings, making the stock its 18th biggest holding. BOK Financial Private Wealth Inc.'s holdings in Broadcom were worth $8,377,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. Pin Oak Investment Advisors Inc. grew its position in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 135 shares during the period. Canton Hathaway LLC purchased a new stake in shares of Broadcom in the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom in the 4th quarter worth about $26,000. JDM Financial Group LLC boosted its stake in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Finally, Bellevue Asset Management LLC bought a new position in Broadcom in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the firm's stock in a transaction on Wednesday, January 8th. The stock was 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 approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Harry L. You sold 6,540 shares of the firm's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by insiders.

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Broadcom Price Performance

Shares of NASDAQ AVGO traded up $15.51 during midday trading on Friday, reaching $194.96. 74,457,084 shares of the stock traded hands, compared to its average volume of 29,443,255. The stock has a market capitalization of $913.85 billion, a PE ratio of 159.02, a P/E/G ratio of 2.29 and a beta of 1.01. The company's 50 day moving average is $222.28 and its 200 day moving average is $193.12. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. 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 issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping 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 company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the company earned $0.98 earnings per share. Broadcom's revenue was up 51.2% on a year-over-year basis. On average, equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. Broadcom's dividend payout ratio (DPR) is 191.87%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AVGO shares. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price target on shares of Broadcom in a research note on Friday. Susquehanna upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a research note on Friday, December 13th. Piper Sandler upped their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. TD Cowen upped their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Finally, Evercore ISI upped their price target 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. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $231.48.

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.