Harel Insurance Investments & Financial Services Ltd. Cuts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Harel Insurance Investments & Financial Services Ltd. cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 17.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 79,582 shares of the semiconductor manufacturer's stock after selling 16,791 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in Broadcom were worth $18,480,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Disciplined Growth Investors Inc. MN purchased a new position in Broadcom in the 2nd quarter worth approximately $228,000. Castleview Partners LLC increased its stake in shares of 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 during the period. Pin Oak Investment Advisors Inc. raised 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 valued at $25,000 after buying an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Broadcom during the 4th quarter valued at $37,000. Finally, JDM Financial Group LLC grew its holdings in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock worth $32,000 after acquiring an additional 172 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. UBS Group upped their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Rosenblatt Securities reissued a "buy" rating and set a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Morgan Stanley raised their price target on Broadcom from $233.00 to $265.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. Mizuho boosted their price objective on shares of Broadcom from $245.00 to $260.00 and gave the company an "outperform" rating in a research report on Friday, January 10th. Finally, Piper Sandler raised their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $225.83.

Insider Transactions at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the firm's stock in a transaction dated Wednesday, January 8th. The stock was 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 of the company's stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 over the last three months. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 17.4 %

Shares of NASDAQ:AVGO traded down $42.57 during trading on Monday, reaching $202.13. 90,182,922 shares of the stock traded hands, compared to its average volume of 29,441,811. The stock has a market cap of $947.46 billion, a P/E ratio of 164.87, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03. 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 stock has a 50-day moving average of $208.80 and a two-hundred day moving average of $180.62. Broadcom Inc. has a 52-week low of $117.43 and a 52-week high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS 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 business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the business posted $0.98 EPS. The company's revenue was up 51.2% compared to the same quarter last year. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared 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 represents a $2.36 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is presently 192.50%.

About Broadcom

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.