Mount Yale Investment Advisors LLC Sells 2,533 Shares of Broadcom Inc. (NASDAQ:AVGO)

Mount Yale Investment Advisors LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,341 shares of the semiconductor manufacturer's stock after selling 2,533 shares during the period. Broadcom comprises 0.7% of Mount Yale Investment Advisors LLC's portfolio, making the stock its 21st biggest position. Mount Yale Investment Advisors LLC's holdings in Broadcom were worth $8,425,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Central Pacific Bank Trust Division lifted its stake in shares of Broadcom by 21.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock valued at $4,858,000 after purchasing an additional 3,707 shares during the period. Wolff Financial Management LLC acquired a new position in shares of Broadcom during the 4th quarter worth about $244,000. Strait & Sound Wealth Management LLC increased its stake 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 acquiring an additional 7,095 shares during the last quarter. Catalyst Financial Partners LLC raised its position in shares of Broadcom by 943.3% in the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock valued at $3,473,000 after acquiring an additional 18,206 shares during the period. Finally, Motive Wealth Advisors boosted its stake in Broadcom by 1,076.5% during the 4th 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 last quarter. Institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

AVGO has been the topic of several analyst reports. TD Cowen increased 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. Deutsche Bank Aktiengesellschaft boosted their target price on Broadcom from $190.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Barclays raised their price target on Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Mizuho increased their target price on Broadcom from $245.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, January 10th. Finally, Piper Sandler lifted their price target on shares of Broadcom from $200.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $225.04.

Insider Transactions at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares in the company, valued at $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Diane M. Bryant sold 15,000 shares of the company's 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 completion of the sale, the director now directly owns 6,460 shares of the company's stock, valued at $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 over the last ninety days. 2.00% of the stock is owned by company insiders.

Broadcom Trading Up 4.5 %

AVGO stock traded up $9.31 during midday trading on Thursday, hitting $215.66. The stock had a trading volume of 42,242,330 shares, compared to its average volume of 31,396,859. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm has a market cap of $1.01 trillion, a P/E ratio of 175.91, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03. The business has a fifty day moving average price of $211.24 and a two-hundred day moving average price of $181.27. 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 released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the company earned $0.98 EPS. Broadcom's quarterly revenue was up 51.2% compared to the same quarter last year. On average, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.09%. Broadcom's payout ratio is currently 191.87%.

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.