Monument Capital Management Lowers Stake in Broadcom Inc. (NASDAQ:AVGO)

Monument Capital Management lowered its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 21.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,203 shares of the semiconductor manufacturer's stock after selling 5,820 shares during the period. Broadcom accounts for about 1.4% of Monument Capital Management's holdings, making the stock its 16th biggest position. Monument Capital Management's holdings in Broadcom were worth $4,916,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. State Street Corp raised its holdings in shares of Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer's stock worth $31,814,902,000 after acquiring an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC boosted its stake in Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer's stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the last quarter. FMR LLC increased its holdings in Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer's stock worth $15,594,088,000 after purchasing an additional 82,998,328 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock worth $6,209,758,000 after purchasing an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Broadcom by 975.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer's stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction 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 completion of the sale, the insider now owns 321,660 shares of the company's stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry L. You sold 6,540 shares of the company's stock in a transaction dated Tuesday, December 17th. The stock was 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 $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO traded down $8.84 during trading hours on Friday, hitting $217.90. The company's stock had a trading volume of 12,635,342 shares, compared to its average volume of 27,238,252. The business has a 50 day simple moving average of $230.21 and a two-hundred day simple moving average of $189.26. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market cap of $1.02 trillion, a price-to-earnings ratio of 177.78, a PEG ratio of 2.39 and a beta of 1.02.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom's revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. On average, equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.08%. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is currently 191.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AVGO shares. Piper Sandler upped their price target on Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Susquehanna upped their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a research note on Friday, December 13th. Mizuho raised their price target 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. Citigroup boosted their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Finally, Hsbc Global Res upgraded shares of Broadcom to a "hold" rating in a research note on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.04.

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.