Artemis Investment Management LLP Sells 112,569 Shares of Broadcom Inc. (NASDAQ:AVGO)

Artemis Investment Management LLP decreased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 20.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 446,698 shares of the semiconductor manufacturer's stock after selling 112,569 shares during the quarter. Broadcom makes up about 1.5% of Artemis Investment Management LLP's investment portfolio, making the stock its 12th largest position. Artemis Investment Management LLP's holdings in Broadcom were worth $103,562,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dakota Community Bank & Trust NA grew its position in Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock worth $391,000 after buying an additional 45 shares in the last quarter. Defined Wealth Management LLC grew its holdings in shares of Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock worth $2,947,000 after purchasing an additional 47 shares in the last quarter. Integrated Investment Consultants LLC increased its position in shares of Broadcom by 0.9% in the fourth quarter. Integrated Investment Consultants LLC now owns 5,392 shares of the semiconductor manufacturer's stock worth $1,250,000 after purchasing an additional 47 shares during the period. Kades & Cheifetz LLC increased its position in shares of Broadcom by 0.8% in the fourth quarter. Kades & Cheifetz LLC now owns 6,623 shares of the semiconductor manufacturer's stock worth $1,536,000 after purchasing an additional 51 shares during the period. Finally, Sivia Capital Partners LLC raised its stake in Broadcom by 0.5% in the fourth quarter. Sivia Capital Partners LLC now owns 9,584 shares of the semiconductor manufacturer's stock valued at $2,222,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AVGO. Truist Financial increased their price target on shares of Broadcom from $205.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Citigroup lifted their price target on Broadcom from $175.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. UBS Group upped their price objective on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Robert W. Baird lifted their target price on Broadcom from $195.00 to $210.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Finally, 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 report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $225.83.

Insider Activity

In other news, CFO Kirsten M. Spears sold 12,570 shares of Broadcom stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the completion of the transaction, the chief financial officer now directly owns 325,443 shares in the company, valued at $74,728,221.66. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the company's stock in a transaction dated 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 $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 in the last three months. Company insiders own 2.00% of the company's stock.

Broadcom Trading Up 1.2 %

NASDAQ AVGO traded up $2.87 during trading hours on Tuesday, hitting $240.31. 30,766,885 shares of the company's stock were exchanged, compared to its average volume of 25,676,523. The firm has a market cap of $1.13 trillion, a price-to-earnings ratio of 196.01, a PEG ratio of 2.48 and a beta of 1.03. The stock has a 50-day simple moving average of $203.18 and a 200 day simple moving average of $178.65. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 1-year low of $117.43 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. The company's quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed 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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is 192.50%.

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.