Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Covea Finance

Covea Finance lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 351,100 shares of the semiconductor manufacturer's stock after selling 29,600 shares during the period. Broadcom comprises approximately 3.7% of Covea Finance's holdings, making the stock its 5th largest holding. Covea Finance's holdings in Broadcom were worth $81,399,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Castleview Partners LLC raised its stake in Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. raised 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 acquiring an additional 135 shares in the last quarter. JDM Financial Group LLC lifted its stake in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock valued at $32,000 after purchasing an additional 172 shares during the period. Tsfg LLC boosted its position in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after purchasing an additional 204 shares in the last quarter. Finally, Cedar Wealth Management LLC raised its holdings in Broadcom by 900.0% in the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer's stock worth $41,000 after purchasing an additional 216 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 0.6 %

NASDAQ AVGO traded up $1.41 during trading hours on Thursday, hitting $229.41. 23,427,036 shares of the company were exchanged, compared to its average volume of 24,616,039. The stock has a market cap of $1.08 trillion, a PE ratio of 187.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. Broadcom Inc. has a 52 week low of $109.02 and a 52 week high of $251.88. The stock has a 50-day moving average price of $200.02 and a 200 day moving average price of $177.11. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

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, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the firm posted $0.98 EPS. Broadcom's quarterly revenue was up 51.2% compared to the same quarter last year. Analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom's dividend payout ratio is presently 192.50%.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent research reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. JPMorgan Chase & Co. raised their price target on Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Citigroup upped their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. TD Cowen raised their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Finally, Susquehanna boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company a "positive" rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $223.54.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 20,168 shares of the firm's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 over the last quarter. Company insiders own 2.00% of the company's stock.

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.