Key Financial Inc Sells 4,770 Shares of Broadcom Inc. (NASDAQ:AVGO)

Key Financial Inc trimmed its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 19.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,915 shares of the semiconductor manufacturer's stock after selling 4,770 shares during the quarter. Broadcom makes up approximately 1.0% of Key Financial Inc's holdings, making the stock its 23rd largest position. Key Financial Inc's holdings in Broadcom were worth $4,617,000 at the end of the most recent quarter.

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

Broadcom Trading Down 3.6 %

Shares of AVGO stock traded down $8.13 on Friday, hitting $218.61. The company had a trading volume of 24,786,947 shares, compared to its average volume of 27,613,346. The stock's 50-day moving average is $230.21 and its two-hundred day moving average is $189.26. 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 cap of $1.02 trillion, a P/E ratio of 178.32, a P/E/G ratio of 2.39 and a beta of 1.02. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data 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 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 the consensus estimate of $14.07 billion. During the same period in the previous year, the business earned $0.98 EPS. The firm's revenue was up 51.2% compared to the same quarter last year. On average, equities research analysts anticipate 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. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.08%. 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 191.87%.

Analysts Set New Price Targets

A number of research analysts have commented on AVGO shares. Truist Financial raised their price target on shares of Broadcom from $205.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Jefferies Financial Group lifted their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a "buy" rating in a report on Friday, December 13th. Morgan Stanley reduced their price target on shares of Broadcom from $265.00 to $246.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Finally, Mizuho raised their price objective on shares of Broadcom from $245.00 to $260.00 and gave the stock an "outperform" rating in a report on Friday, January 10th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.04.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the sale, the chief executive officer now directly owns 842,836 shares of the company's stock, valued at $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction that occurred 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 transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company's stock.

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.