Sowell Financial Services LLC Sells 9,404 Shares of Broadcom Inc. (NASDAQ:AVGO)

Sowell Financial Services LLC decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 76,767 shares of the semiconductor manufacturer's stock after selling 9,404 shares during the quarter. Broadcom comprises approximately 0.9% of Sowell Financial Services LLC's investment portfolio, making the stock its 16th largest holding. Sowell Financial Services LLC's holdings in Broadcom were worth $17,798,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. State Street Corp boosted its position in shares of Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer's stock valued at $31,814,902,000 after buying an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC raised its position in Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer's stock worth $17,055,760,000 after acquiring an additional 89,975,941 shares during the period. FMR LLC raised its holdings in shares of Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer's stock worth $15,594,088,000 after purchasing an additional 82,998,328 shares during the period. Jennison Associates LLC lifted its position in shares of Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock valued at $6,209,758,000 after buying an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer's stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

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Broadcom Stock Up 8.6 %

AVGO stock traded up $15.51 on Friday, reaching $194.96. 74,457,084 shares of the company traded hands, compared to its average volume of 29,443,255. 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 fifty day simple moving average of $222.28 and a 200-day simple moving average of $193.12. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a market cap of $913.85 billion, a P/E ratio of 159.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly 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 net margin of 11.43% and a return on equity of 28.00%. The firm 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 company posted $0.98 earnings per share. The business's revenue for the quarter was up 51.2% on a year-over-year basis. Research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared 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. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom's payout ratio is currently 191.87%.

Analyst Ratings Changes

AVGO has been the subject of a number of analyst reports. Susquehanna raised their price target on Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a report on Friday, December 13th. Citigroup increased their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. TD Cowen boosted their target price on Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Morgan Stanley boosted their target price on Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday. Finally, KeyCorp lifted their price target on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $231.48.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 45,000 shares of the business's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the transaction, the chief executive officer now owns 842,836 shares of the company's stock, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the business's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was 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 valued at $44,964,800. Insiders own 2.00% of the company's stock.

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.