Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Monetta Financial Services Inc.

Monetta Financial Services Inc. trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 28.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,000 shares of the semiconductor manufacturer's stock after selling 2,000 shares during the period. Broadcom makes up about 0.9% of Monetta Financial Services Inc.'s holdings, making the stock its 25th largest holding. Monetta Financial Services Inc.'s holdings in Broadcom were worth $1,159,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Holderness Investments Co. raised its position in shares of Broadcom by 2.9% during the 4th quarter. Holderness Investments Co. now owns 38,543 shares of the semiconductor manufacturer's stock worth $8,936,000 after acquiring an additional 1,100 shares in the last quarter. Whittier Trust Co. boosted its holdings in shares of Broadcom by 2.4% in the 4th quarter. Whittier Trust Co. now owns 706,677 shares of the semiconductor manufacturer's stock valued at $163,836,000 after buying an additional 16,819 shares in the last quarter. OLD Point Trust & Financial Services N A grew its position in shares of Broadcom by 142.9% in the 4th quarter. OLD Point Trust & Financial Services N A now owns 170 shares of the semiconductor manufacturer's stock valued at $39,000 after buying an additional 100 shares during the last quarter. BluePointe Capital Management LLC grew its position in shares of Broadcom by 3.3% in the 4th quarter. BluePointe Capital Management LLC now owns 5,905 shares of the semiconductor manufacturer's stock valued at $1,369,000 after buying an additional 189 shares during the last quarter. Finally, Berkshire Capital Holdings Inc. lifted its position in Broadcom by 6.6% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 71,810 shares of the semiconductor manufacturer's stock valued at $16,648,000 after acquiring an additional 4,440 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

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Broadcom Price Performance

AVGO traded down $0.41 on Monday, hitting $191.25. 33,115,698 shares of the company were exchanged, compared to its average volume of 28,963,745. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a market capitalization of $899.25 billion, a P/E ratio of 156.00, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The business's fifty day moving average is $214.38 and its 200 day moving average is $195.37.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom's dividend payout ratio is currently 113.46%.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now owns 321,660 shares of the company's stock, valued at $76,809,191.40. The trade was a 5.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 157,168 shares of company stock valued at $37,108,677 in the last ninety days. Corporate insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AVGO. Hsbc Global Res raised Broadcom to a "hold" rating in a report on Tuesday, December 3rd. Rosenblatt Securities restated a "buy" rating and set a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, March 7th. Benchmark restated a "buy" rating and set a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, KeyCorp upped their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $231.48.

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.