Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lowered its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 230,360 shares of the semiconductor manufacturer's stock after selling 22,237 shares during the quarter. Broadcom accounts for about 4.0% of Valley Wealth Managers Inc.'s investment portfolio, making the stock its biggest holding. Valley Wealth Managers Inc.'s holdings in Broadcom were worth $53,407,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Bfsg LLC boosted its stake in shares of Broadcom by 12.5% in the 4th quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer's stock worth $105,000 after buying an additional 50 shares during the last quarter. Davidson Trust Co. lifted its stake in Broadcom by 1.9% in the 4th quarter. Davidson Trust Co. now owns 7,582 shares of the semiconductor manufacturer's stock worth $1,758,000 after purchasing an additional 144 shares in the last quarter. BKM Wealth Management LLC boosted its stake in Broadcom by 36.3% during the fourth quarter. BKM Wealth Management LLC now owns 12,258 shares of the semiconductor manufacturer's stock valued at $2,842,000 after buying an additional 3,264 shares during the last quarter. CRA Financial Services LLC increased its position in Broadcom by 0.3% in the fourth quarter. CRA Financial Services LLC now owns 23,029 shares of the semiconductor manufacturer's stock worth $5,339,000 after purchasing an additional 79 shares during the last quarter. Finally, GAM Holding AG lifted its holdings in shares of Broadcom by 74.8% in the 4th quarter. GAM Holding AG now owns 125,850 shares of the semiconductor manufacturer's stock valued at $29,177,000 after acquiring an additional 53,843 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AVGO. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Mizuho upped their target price on Broadcom from $245.00 to $260.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Truist Financial boosted their price objective on Broadcom from $205.00 to $245.00 and gave the company a "buy" rating in a report on Friday, December 13th. TD Cowen increased their target price on Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Finally, Jefferies Financial Group boosted their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and an average target price of $225.04.

Broadcom Stock Performance

NASDAQ:AVGO traded down $8.13 during trading hours on Friday, reaching $218.61. 24,786,947 shares of the stock were exchanged, compared to its average volume of 27,613,346. The firm has a 50 day simple moving average of $230.21 and a 200-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 stock has a market capitalization 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. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

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 (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company's revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

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

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the firm's stock in a transaction dated 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 $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 available at 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 sale, the director now owns 30,450 shares of the company's stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by corporate insiders.

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.