D.A. Davidson & CO. Sells 7,104 Shares of Broadcom Inc. (NASDAQ:AVGO)

D.A. Davidson & CO. reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 699,276 shares of the semiconductor manufacturer's stock after selling 7,104 shares during the period. Broadcom accounts for 1.3% of D.A. Davidson & CO.'s portfolio, making the stock its 11th biggest holding. D.A. Davidson & CO.'s holdings in Broadcom were worth $162,120,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Pin Oak Investment Advisors Inc. raised its stake in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 135 shares during the period. JDM Financial Group LLC increased 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 acquiring an additional 172 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in Broadcom in the 4th quarter worth approximately $37,000. R Squared Ltd bought a new stake in Broadcom in the 4th quarter worth approximately $39,000. Finally, Cedar Wealth Management LLC increased its stake in Broadcom by 900.0% in the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer's stock worth $41,000 after acquiring an additional 216 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research reports. Robert W. Baird lifted their price objective on Broadcom from $195.00 to $210.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. UBS Group boosted their target price on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Barclays boosted their target price on Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Susquehanna boosted their price objective on Broadcom from $200.00 to $225.00 and gave the company a "positive" rating in a report on Friday, December 13th. Finally, Mizuho boosted their price objective on Broadcom from $245.00 to $260.00 and gave the company an "outperform" rating in a report on Friday, January 10th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $225.04.

Insider Buying and Selling

In other news, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares of the company's stock, valued at approximately $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

AVGO traded down $8.13 on Friday, hitting $218.61. 24,786,947 shares of the company traded hands, compared to its average volume of 27,613,346. The company has a 50 day moving average of $230.21 and a 200-day moving average of $189.26. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $1.02 trillion, a PE ratio of 178.32, a PEG ratio of 2.39 and a beta of 1.02. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company's revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Monday, December 23rd. Broadcom's dividend payout ratio (DPR) is 191.87%.

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.