Doliver Advisors LP Decreases Stock Position in Broadcom Inc. $AVGO

Doliver Advisors LP decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 27.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,749 shares of the semiconductor manufacturer’s stock after selling 3,757 shares during the quarter. Broadcom makes up 0.8% of Doliver Advisors LP’s investment portfolio, making the stock its 16th biggest holding. Doliver Advisors LP’s holdings in Broadcom were worth $3,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AVGO. Sawyer & Company Inc increased its stake in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 36 shares during the period. Longfellow Investment Management Co. LLC acquired a new position in Broadcom during the 2nd quarter worth approximately $27,000. Legend Financial Advisors Inc. purchased a new stake in shares of Broadcom in the 2nd quarter valued at approximately $28,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Broadcom in the 2nd quarter valued at approximately $28,000. Finally, LGT Financial Advisors LLC acquired a new stake in shares of Broadcom in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $326.02 on Thursday. The stock has a market cap of $1.54 trillion, a P/E ratio of 68.49, a P/E/G ratio of 1.15 and a beta of 1.19. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The stock has a 50 day moving average of $362.96 and a two-hundred day moving average of $319.95. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The business had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. During the same period in the previous year, the company posted $1.42 EPS. The company’s quarterly revenue was up 28.2% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom’s dividend payout ratio is currently 49.58%.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 800 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $361.89, for a total transaction of $289,512.00. Following the transaction, the director owned 20,582 shares of the company’s stock, valued at $7,448,419.98. This trade represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total value of $33,958,000.00. Following the sale, the chief executive officer directly owned 725,638 shares of the company’s stock, valued at approximately $246,412,152.04. This represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 791,513 shares of company stock worth $287,708,906. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of several recent analyst reports. Raymond James Financial set a $420.00 target price on Broadcom and gave the company an “outperform” rating in a report on Thursday, November 20th. Evercore ISI increased their price objective on Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Cowen restated a “buy” rating on shares of Broadcom in a research note on Friday, December 12th. The Goldman Sachs Group set a $435.00 price target on Broadcom and gave the company a “buy” rating in a report on Tuesday, November 25th. Finally, Truist Financial set a $500.00 price objective on shares of Broadcom in a report on Friday, December 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $435.96.

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.