Colton Groome Financial Advisors LLC Sells 1,680 Shares of Broadcom Inc. $AVGO

Colton Groome Financial Advisors LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 9.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,621 shares of the semiconductor manufacturer’s stock after selling 1,680 shares during the quarter. Broadcom comprises approximately 1.6% of Colton Groome Financial Advisors LLC’s portfolio, making the stock its 15th biggest position. Colton Groome Financial Advisors LLC’s holdings in Broadcom were worth $5,154,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Broadcom in the second quarter worth $18,579,549,000. Vanguard Group Inc. raised its holdings in Broadcom by 1.3% in the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after buying an additional 6,222,802 shares during the last quarter. Edgewood Management LLC purchased a new position in Broadcom in the 2nd quarter worth approximately $1,571,438,000. Massachusetts Financial Services Co. MA raised its stake in shares of Broadcom by 115.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,017,340 shares of the semiconductor manufacturer’s stock worth $1,658,680,000 after purchasing an additional 3,224,739 shares during the last quarter. Finally, Invesco Ltd. raised its position in Broadcom by 8.4% in the 2nd quarter. Invesco Ltd. now owns 38,449,630 shares of the semiconductor manufacturer’s stock worth $10,598,641,000 after buying an additional 2,978,768 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research reports. Wall Street Zen upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Susquehanna restated a “positive” rating and set a $450.00 target price (up previously from $400.00) on shares of Broadcom in a research note on Thursday, December 4th. Wells Fargo & Company upgraded Broadcom from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $410.00 to $430.00 in a research report on Thursday, January 15th. Raymond James Financial set a $420.00 target price on shares of Broadcom and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Broadcom in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Broadcom presently has an average rating of “Buy” and a consensus price target of $438.61.

Insider Buying and Selling at Broadcom

In related news, CFO Kirsten M. Spears sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total value of $10,434,600.00. Following the completion of the transaction, the chief financial officer owned 277,237 shares of the company’s stock, valued at $96,428,573.34. The trade was a 9.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 38,281 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total value of $12,542,769.65. Following the completion of the transaction, the insider directly owned 266,494 shares of the company’s stock, valued at approximately $87,316,759.10. The trade was a 12.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 779,901 shares of company stock valued at $284,069,237. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Up 2.4%

NASDAQ:AVGO opened at $332.79 on Wednesday. The company has a market cap of $1.58 trillion, a price-to-earnings ratio of 69.91, a price-to-earnings-growth ratio of 1.08 and a beta of 1.21. 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 Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The stock has a fifty day simple moving average of $356.69 and a 200-day simple moving average of $336.92.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were given a dividend of $0.65 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. Broadcom’s payout ratio is 54.62%.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.