Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Lessened by Ethos Financial Group LLC

Ethos Financial Group LLC reduced its holdings in Broadcom Inc. (NASDAQ:AVGO) by 8.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 557 shares of the semiconductor manufacturer’s stock after selling 49 shares during the quarter. Ethos Financial Group LLC’s holdings in Broadcom were worth $622,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Broadcom in the 4th quarter worth about $25,000. PSI Advisors LLC increased its holdings in shares of Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 10 shares during the period. BKM Wealth Management LLC acquired a new stake in shares of Broadcom in the 4th quarter worth about $29,000. CKW Financial Group acquired a new stake in shares of Broadcom in the 4th quarter worth about $30,000. Finally, Bfsg LLC acquired a new stake in shares of Broadcom in the 4th quarter worth about $35,000. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Justine Page sold 110 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Justine Page sold 110 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the transaction, the insider now directly owns 41,974 shares in the company, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock valued at $40,306,667 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 1.5 %

Shares of AVGO stock traded down $19.70 during trading on Thursday, hitting $1,305.67. 1,216,615 shares of the company were exchanged, compared to its average volume of 2,837,125. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The firm has a market capitalization of $605.07 billion, a price-to-earnings ratio of 48.39, a P/E/G ratio of 2.60 and a beta of 1.25. The business’s 50-day simple moving average is $1,309.54 and its 200 day simple moving average is $1,158.92. Broadcom Inc. has a twelve month low of $617.99 and a twelve month high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period last year, the company posted $9.83 earnings per share. As a group, analysts forecast that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Analysts Set New Price Targets

A number of analysts recently weighed in on AVGO shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Benchmark reissued a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a research note on Friday, January 19th. Cantor Fitzgerald raised their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Finally, Barclays raised their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

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.