Lbp Am Sa Sells 67,064 Shares of Broadcom Inc. (NASDAQ:AVGO)

LBP AM SA reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 716,595 shares of the semiconductor manufacturer's stock after selling 67,064 shares during the period. Broadcom comprises about 2.2% of LBP AM SA's investment portfolio, making the stock its 8th biggest position. LBP AM SA's holdings in Broadcom were worth $166,135,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom during the 4th quarter worth about $26,000. Bellevue Asset Management LLC bought a new stake in Broadcom during the 4th quarter worth about $33,000. Pin Oak Investment Advisors Inc. increased its position in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. Finally, Synergy Investment Management LLC bought a new position in shares of Broadcom in the fourth quarter worth about $35,000. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company's stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last quarter. 2.00% of the stock is currently owned by insiders.

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Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. Piper Sandler upped their price target on Broadcom from $200.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Mizuho decreased their price target on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Jefferies Financial Group boosted their price objective on Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Finally, Hsbc Global Res raised shares of Broadcom to a "hold" rating in a research note on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $231.48.

Broadcom Stock Up 2.2 %

AVGO traded up $4.18 during trading on Friday, reaching $195.54. The company had a trading volume of 25,878,856 shares, compared to its average volume of 29,383,104. The company has a market cap of $919.42 billion, a P/E ratio of 159.50, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The business's fifty day moving average price is $218.12 and its 200 day moving average price is $193.68. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company's revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. Equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom's payout ratio is 113.46%.

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.