Farther Finance Advisors LLC Cuts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Farther Finance Advisors LLC decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,526 shares of the semiconductor manufacturer's stock after selling 4,039 shares during the quarter. Farther Finance Advisors LLC's holdings in Broadcom were worth $11,946,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AVGO. Pin Oak Investment Advisors Inc. increased its holdings in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 135 shares during the period. Canton Hathaway LLC purchased a new stake in Broadcom during the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom during the 4th quarter worth about $26,000. JDM Financial Group LLC increased its holdings in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock worth $32,000 after purchasing an additional 172 shares during the period. Finally, Bellevue Asset Management LLC purchased a new stake in Broadcom during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 842,836 shares of the company's stock, valued at $202,246,926.56. This trade represents a 5.07 % 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 over the last quarter. Company insiders own 2.00% of the company's stock.

Broadcom Stock Up 3.1 %

NASDAQ AVGO opened at $190.09 on Wednesday. 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 50-day simple moving average of $220.42 and a 200 day simple moving average of $193.44. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The stock has a market cap of $893.79 billion, a PE ratio of 155.05, a PEG ratio of 2.29 and a beta of 1.01.

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

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, March 20th. Broadcom's dividend payout ratio is 113.46%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AVGO. Barclays upped their price objective on Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. TD Cowen upped their price objective on Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Jefferies Financial Group upped their price objective on Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Finally, Susquehanna upped their price objective on Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $231.48.

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.

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