Oppenheimer Asset Management Inc. Sells 33,961 Shares of Broadcom Inc. (NASDAQ:AVGO)

Oppenheimer Asset Management Inc. trimmed its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 283,118 shares of the semiconductor manufacturer's stock after selling 33,961 shares during the period. Broadcom makes up about 0.8% of Oppenheimer Asset Management Inc.'s portfolio, making the stock its 19th largest holding. Oppenheimer Asset Management Inc.'s holdings in Broadcom were worth $65,638,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Pin Oak Investment Advisors Inc. raised its holdings in shares of Broadcom by 900.0% in 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 in the last quarter. Canton Hathaway LLC acquired a new position in Broadcom in the fourth quarter worth approximately $26,000. JDM Financial Group LLC increased its holdings in shares of Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock valued at $32,000 after buying an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at $37,000. Finally, R Squared Ltd bought a new stake in shares of Broadcom during the 4th quarter worth $39,000. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of the business's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares of the company's stock, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares in the company, valued at $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 over the last 90 days. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent analyst reports. Susquehanna boosted their target price on Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a research report on Friday, December 13th. Hsbc Global Res upgraded Broadcom to a "hold" rating in a report on Tuesday, December 3rd. Jefferies Financial Group raised their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Bank of America boosted their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a "buy" rating in a report on Friday, December 13th. Finally, TD Cowen upped their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.04.

Broadcom Stock Up 3.0 %

Shares of AVGO stock traded up $5.61 on Tuesday, hitting $192.98. The company's stock had a trading volume of 25,431,179 shares, compared to its average volume of 29,550,775. The stock has a market capitalization of $904.55 billion, a price-to-earnings ratio of 157.50, a P/E/G ratio of 2.29 and a beta of 1.02. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The firm's fifty day moving average price is $226.54 and its 200-day moving average price is $192.50. 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 announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business's quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current 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 given a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.22%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is presently 191.87%.

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.