Allen Capital Group LLC Has $722,000 Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Allen Capital Group LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 73.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 647 shares of the semiconductor manufacturer’s stock after selling 1,797 shares during the period. Allen Capital Group LLC’s holdings in Broadcom were worth $722,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AVGO. BetterWealth LLC grew its stake in shares of Broadcom by 1.5% during the fourth quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock worth $672,000 after purchasing an additional 9 shares during the period. Rise Advisors LLC grew its stake in Broadcom by 33.3% in the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after acquiring an additional 10 shares during the period. CX Institutional grew its stake in Broadcom by 0.8% in the fourth quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after acquiring an additional 10 shares during the period. Cascade Investment Group Inc. grew its stake in Broadcom by 1.7% in the fourth quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock valued at $680,000 after acquiring an additional 10 shares during the period. Finally, Sabal Trust CO grew its stake in Broadcom by 1.6% in the fourth quarter. Sabal Trust CO now owns 640 shares of the semiconductor manufacturer’s stock valued at $714,000 after acquiring an additional 10 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Up 0.7 %

Shares of NASDAQ:AVGO opened at $1,338.68 on Wednesday. The company has a market capitalization of $620.37 billion, a P/E ratio of 49.26, a P/E/G ratio of 2.67 and a beta of 1.25. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The business’s 50 day simple moving average is $1,306.49 and its 200 day simple moving average is $1,114.01.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the prior year, the business posted $9.83 earnings per share. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, research analysts anticipate that Broadcom Inc. will post 35.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a yield of 1.57%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Analyst Ratings Changes

AVGO has been the subject of a number of research analyst reports. Barclays initiated coverage on Broadcom in a research note on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 target price for the company. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Benchmark restated a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,281.09.

Insider Buying and Selling

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 in the last three months. Insiders own 2.00% of the company’s stock.

Broadcom Company 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.