Good Life Advisors LLC Sells 16,237 Shares of Broadcom Inc. (NASDAQ:AVGO)

Good Life Advisors LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 51.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,381 shares of the semiconductor manufacturer's stock after selling 16,237 shares during the quarter. Good Life Advisors LLC's holdings in Broadcom were worth $3,566,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Central Pacific Bank Trust Division lifted its stake in Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock worth $4,858,000 after purchasing an additional 3,707 shares during the last quarter. Wolff Financial Management LLC bought a new position in shares of Broadcom in the 4th quarter worth about $244,000. Strait & Sound Wealth Management LLC boosted its holdings in shares of Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer's stock valued at $1,371,000 after buying an additional 7,095 shares during the period. Catalyst Financial Partners LLC grew its position in shares of Broadcom by 943.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock valued at $3,473,000 after buying an additional 18,206 shares during the last quarter. Finally, Motive Wealth Advisors raised its stake in Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock worth $1,066,000 after acquiring an additional 4,209 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

Broadcom stock traded down $10.73 during mid-day trading on Monday, hitting $207.93. The company's stock had a trading volume of 32,972,707 shares, compared to its average volume of 27,762,258. The stock has a market capitalization of $974.64 billion, a P/E ratio of 169.60, a P/E/G ratio of 2.37 and a beta of 1.02. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The stock's fifty day moving average price is $230.09 and its two-hundred day moving average price is $190.49. 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 announced its 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 for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. Broadcom's revenue for the quarter was up 51.2% compared to the same quarter last year. Research analysts forecast 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. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.13%. This is a boost 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 (DPR) is presently 192.50%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup increased their target price on Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Hsbc Global Res upgraded shares of Broadcom to a "hold" rating in a research report on Tuesday, December 3rd. Barclays upped their target price on shares of Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Morgan Stanley cut their price target on Broadcom from $265.00 to $246.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Finally, Robert W. Baird increased their price objective on Broadcom from $195.00 to $210.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.04.

Insider Transactions at Broadcom

In other news, Director Harry L. You sold 6,540 shares of the firm's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company's stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company's stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last ninety days. Corporate insiders own 2.00% of the company's stock.

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.